Mumbai, June 25 -- WTI crude futures climbed back above $65 per barrel on Wednesday, rising nearly 2% to $65.38 as bargain hunters stepped in after a sharp 13% drop earlier this week. The rebound was supported by signs that the US-brokered ceasefire between Iran and Israel is holding firm. On the supply side, US crude inventories fell by 4.28 million barrels last week-marking a fourth straight weekly draw-highlighting tightening fundamentals. MCX July oil futures also gained nearly 1%, trading at Rs.5634 per barrel.
Published by HT Digital Content Services with permission from Capital Market....