COMMODITY
Crude oil futures decline on MCX
Apr-08-2026
Crude oil futures declined on MCX as speculators trimmed their positions, tracking weak global benchmarks after a two-week ceasefire deal between the US and Iran, which is expected to restore supply flows through the Strait of Hormuz - a key transit route for nearly one-fifth of global oil shipments. Crude oil prices weakened further as the American Petroleum Institute (API) reportedly showed a larger-than-expected build of 3.7 million barrels of oil in US commercial stockpiles for the week ending April 3, 2026.

The contract for April delivery was trading at Rs 8802.00, down by 17.50% or Rs 1867.00 from its previous closing of Rs 10669.00. The open interest of the contract stood at 8893 lots.

The contract for May delivery was trading at Rs 8041.00, down by 14.68% or Rs 1384.00 from its previous closing of Rs 9425.00. The open interest of the contract stood at 6665 lots on MCX.
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