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Commodity News Details
Hot Commodities: Crude oil bounces in Asia as $90 per barrel holds, war tensions resurface
08-Jun-2026 11:43
Crude oil futures bounded in Asia today after witnessing a massive slide in last session. WTI Crude oil tumbled around 2.70% on Friday to test one-week low amid a massive collapse in US equities. However, the counter edged up today on reports of an escalation in geopolitical worries. Israeli defence forces struck military targets in Iran in retaliation to Iran's missile attack at Israel late Sunday. This fresh exchange of strikes between Iran and Israel is the first one since temporary ceasefire took place on April. WTI Crude moved up after bottoming out around $90 per barrel and currently trades at $94.38 per barrel, up 4.26% on the day. MCX Crude oil futures are quoting at Rs 9053 per barrel, up 5.10% on the day amid an excellent bounce back.

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