Crude oil prices surged sharply on Monday, climbing Rs 589 to hit a lifetime high of Rs 6,700 per barrel in futures trade amid escalating tensions in the Middle East. On the Multi Commodity Exchange (MCX), crude oil for April delivery traded Rs 594 higher, or 9.73 per cent up, at Rs 6,596 per barrel. The sharp rally followed news that Saudi Aramco had shut down its Ras Tanura Refinery as a precautionary measure after it was hit by a drone.
Crude oil futures rise 9% as Saudi Aramco’s Ras Tanura refinery shut down after drone strike
