Energy Market Remains Volatile Amid Supply Uncertainty

Crude oil prices climbed nearly 2% in futures trade on Monday, driven by firm global benchmarks and concerns over potential supply disruptions linked to tensions between the US and Iran.

On the Multi Commodity Exchange (MCX), crude oil contracts for May delivery rose by ₹156, or 1.61%, to ₹9,821 per barrel, with a trading volume of 16,361 lots.

Market analysts noted that prices remained elevated around the ₹9,800 mark as traders continued to assess geopolitical developments and their impact on global oil supply stability.

Gaurav Garg said that the upward trend reflects ongoing uncertainty in the energy market, particularly due to evolving US-Iran relations.

The rise in crude prices is likely to have a cascading effect on fuel costs and inflation if the trend persists