Crude Surges On Supply Worries, MCX Futures Test Rs 3900 Level

Global crude oil prices jumped sharply today as media reports noted that an Iranian oil tanker in the Red Sea was hit by two suspected rockets off the coast of Saudi Arabia. This yet again bought to the foray the worries about supply disruptions from Middle East and boosted WTI Crude to a one week high near $ 55 per barrel. The counter currently trades at $ 54.53 per barrel, up around 1.90% on the day. Oil has been rising in an impressive manner this week and steady cues are equities are likely to keep the sentiment positive for the commodity ahead of the weekend. The MCX Crude oil futures are following global cues and are currently trading up 2.56% at Rs 3880 per barrel after testing a high of Rs 3902 per barrel earlier in the session.