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Commodity News Details
Brent crosses $91, WTI Nears $85 as Middle East risks escalate
20-Jul-2026 13:08
Crude oil prices rallied sharply on Monday as escalating military tensions between the US and Iran heightened concerns over potential supply disruptions in the Middle East. Brent crude rose more than 3% to above $91 per barrel, while WTI advanced over 2% to $84.60. Market sentiment was further supported after Iran reported intercepting vessels in the Strait of Hormuz, raising fears over the security of one of the world's most critical oil transit routes. A weaker US dollar also lent support to crude prices, while MCX August crude oil futures gained 1.7% to Rs 8,046 per barrel as investors closely monitored geopolitical developments.

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