Iran’s attack on Israel has had an impact on crude oil prices.

New Delhi:

Crude oil futures fell 1.57% to Rs 7,074 a barrel on Monday as participants reduced their positions after Iran attacked Israel.

On the Multi Commodity Exchange, crude oil for April delivery fell 113 rupees, or 1.57%, to 7,074 rupees a barrel, with trading volume of 6,469 lots.

Pranav Mer, vice-president, EBG, Commodities and Currencies Research at JM Financial Services Ltd, said, “Oil prices are lower on profit bookings and risk premiums have eased due to the spat between Israel and Iran following weekend developments. ease.”

Globally, West Texas Intermediate crude oil prices fell 1.04% to $84.77 a barrel, while Brent crude oil prices in New York fell 0.95% to $89.59 a barrel.

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