Mumbai, Aug. 4 -- WTI crude rose to $67 per barrel on Monday, reversing early losses after OPEC+ confirmed it will boost production by 547,000 barrels per day in September. The move comes amid stable market fundamentals and low inventories. MCX August crude futures also edged up 0.66% to Rs.5926 after touching an intraday low of Rs.5887. Meanwhile, tensions flared as the US, under President Trump, warned India over Russian crude imports and threatened 100% secondary sanctions, potentially disrupting up to 2.75 million barrels per day in exports. Support also came from softer US jobs data, fueling fresh bets on a Fed rate cut.
Published by HT Digital Content Services with permission from Capital Market....