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Commodity Mid Session News

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(10 Jun 2025, 14:07)

Oil gains for fourth session, OPEC+ supply move in focus

Crude oil futures climbed above $65.5 per barrel in Asia on Tuesday, marking a fourth straight session of gains as markets awaited updates from US-China trade talks that could ease tariff-related demand risks. MCX June oil futures also traded higher by ₹39 at ₹5604 per barrel. High-level negotiations between US and Chinese officials, which began in London on Monday, were set to continue today. Geopolitical tensions kept a floor under prices, with no breakthrough in the Russia-Ukraine ceasefire and lingering uncertainty over a US-Iran nuclear deal. Meanwhile, Saudi Arabia’s call for OPEC+ to raise output by at least 411,000 barrels per day in August and possibly again in September has stirred fresh concerns of oversupply.
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