Mumbai, Aug. 7 -- WTI crude oil rose toward $65 per barrel on Thursday, snapping a five-day losing streak as geopolitical tensions and supply concerns resurfaced. In contrast, MCX August oil futures slipped by 0.23% to Rs 5700 per barrel, showing a disconnect from the 0.8% rise in international prices to $64.86. This divergence highlights the widening gap between Indian and global oil prices. A sharp 3 million barrel drop in US crude inventories supported the rebound, while Saudi Arabia raised September prices for Asia for the second straight month, citing tight supply and strong demand. Meanwhile, the Indian rupee weakened past 87.7 per dollar after the US doubled tariffs on Indian imports over its continued Russian oil trade.
Published b...