Crude oil prices have dropped below ₹6,000 on the Multi Commodity Exchange (MCX) following the announcement of a ceasefire between Iran and Israel by US President Donald Trump, easing concerns in global markets.
MCX crude oil futures for July contract opened lower at ₹5,732 per barrel as against its previous close of ₹6,046 level. On Monday, MCX crude oil prices rallied 2.28% to a high of ₹6,550, and were trading 1.80% higher at ₹6,519 per barrel.
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