Crude oil futures fall over 6 per cent amid easing tensions in West Asia

Updated On: 03 August, 2026 11:09 AM IST | New Delhi | PTI

On the Multi Commodity Exchange (MCX), crude oil futures for August delivery slumped Rs 512, or 6.31 per cent, to Rs 7,601 per barrel. The contract hit its lower circuit level in the intra-day trade. Similarly, the September contract also fell sharply by Rs 415, or 5.3 per cent, to Rs 7,424 per barrel amid broad-based selling by investors

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Crude prices retreated sharply on Monday, with domestic futures falling more than 6 per cent to Rs 7,601 per barrel as signs of easing tensions in West Asia eroded the risk premium in global oil benchmarks.

On the Multi Commodity Exchange (MCX), crude oil futures for August delivery slumped Rs 512, or 6.31 per cent, to Rs 7,601 per barrel. The contract hit its lower circuit level in the intra-day trade.