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Commodity News Details
Oil pares war-driven gains; WTI falls back toward $90 a barrel
11-Jun-2026 13:00
Crude oil futures gave up most of their early gains on Thursday, retreating toward the $90-per-barrel mark after briefly surging above $93 following a fresh round of US airstrikes on Iran. While escalating Middle East tensions and Iran's continued threat to the Strait of Hormuz are keeping supply concerns elevated, profit-taking and broader market caution weighed on prices. Supporting the market, US crude inventories fell by 7.2 million barrels last week, marking a seventh consecutive weekly decline. However, investors are now turning their attention to upcoming US producer inflation and jobless claims data for fresh signals on the Federal Reserve's policy path. On MCX, June crude oil futures were down nearly 1% at Rs 8,644 per barrel.

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