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Oil rebounds toward $77 after US-Iran talks collapse
19-Jun-2026 13:30
Crude oil prices climbed toward $77 per barrel on Friday after planned US-Iran talks in Switzerland were cancelled, reviving concerns over Middle East tensions and energy supply risks. The rebound followed a sharp weekly decline that saw international crude futures tumble nearly 10%, with prices briefly falling to $71.83 per barrel. However, gains remained limited as a stronger US dollar and growing expectations of further Federal Reserve rate hikes weighed on market sentiment. On the domestic front, MCX July crude oil futures advanced more than 2% to Rs 7,238 per barrel, tracking the recovery in global oil prices.

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