Mumbai, Feb. 6 -- WTI crude futures climbed to approximately $73 per barrel, bolstered by concerns over escalating tensions in the Middle East, which could disrupt oil supply. US strikes on Iran-backed militias over the weekend heightened apprehensions, although US officials stressed a lack of intent for wider conflict. Despite last week's heavy losses driven by reduced supply risks amid Israel-Hamas ceasefire talks, oil prices remain buoyed, supported by fading expectations of immediate US Federal Reserve interest rate cuts and ongoing worries about China's economic recovery.
Published by HT Digital Content Services with permission from Capital Market....