Mumbai, March 20 -- WTI Crude Oil futures climbed above 67 per barrel on Thursday, fueled by heightened Middle East tensions and bullish US inventory data. Israel resumed its Gaza offensive, ending a nearly two-month ceasefire, while US forces intensified strikes on Houthi targets in Yemen after Red Sea attacks, with Trump vowing consequences for Iran. The US EIA reported a drop in distillate and gasoline inventories for the week ending March 14, although crude stockpiles rose by 1.7 million barrels. Hopes of a Ukraine ceasefire hinted at eased Russian sanctions, which could impact supply. Meanwhile, the FOMC reaffirmed two rate cuts for 2025 but trimmed US GDP growth forecasts and raised inflation projections. MCX April expiry oil futures ...
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