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Commodity News Details
Oil climbs as OPEC+ to raise output; Fed cut buzz
04-Aug-2025 13:14
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 ₹5926 after touching an intraday low of ₹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.

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