Crude oil prices dipped slightly to ₹9,127 per barrel in futures trading on Friday, despite an upward trend in global benchmarks due to rising tensions in West Asia.
On the Multi Commodity Exchange, crude oil for May delivery fell by ₹48, or 0.52 percent, to ₹9,127 per barrel with a volume of 12,549 lots. Analysts attributed the decline in domestic oil prices to profit-taking, while noting that global markets remained robust amid continuing supply concerns.
In international markets, Brent Crude futures for the June contract increased by $2.18, or 2.07 percent, reaching $107.25 per barrel. Meanwhile, West Texas Intermediate for the same month gained $1.90, or 2 percent, bringing it to $97.75 per barrel in New York.
“Crude oil futures moved higher as tensions in the Middle East escalated, with the Strait of Hormuz remaining closed and ceasefire negotiations showing no clear progress,” said Kaveri More, Commodity Analyst – Technical Research at Choice Broking. She pointed to renewed military actions near Tehran and ongoing U.S. naval activities in the region as factors maintaining elevated supply concerns. Additionally, President Donald Trump’s directive to target vessels laying mines in the Strait of Hormuz has contributed to fears of extended disruptions.
More added, “With Iran showing no immediate willingness to engage in negotiations under continued naval restrictions, the standoff is tightening global supply. At the same time, stronger demand for U.S. exports and decreasing domestic fuel inventories are further bolstering prices.”
Published on April 24, 2026.
