August crude oil futures were trading at ₹7,768 on MCX during the initial hour of trading on Friday against the previous close of ₹7,821, down by 0.68%.
Crude oil futures traded flat on Friday morning after the US said it could maintain a naval blockade of Iran indefinitely and intensify economic pressure on Iran.At 10.03 am on Friday, October Brent oil futures were at $87.06, down by 0.01 per cent, and September crude oil futures on WTI (West Texas Intermediate) were at $81.30, up by 0.06 per cent. August crude oil futures were trading at ₹7752 on Multi Commodity Exchange (MCX) during the initial hour of trading on Friday against the previous close of ₹7821, down by 0.88 per cent, and September futures were trading at ₹7701 against the previous close of ₹7764, down by 0.81 per cent.Speaking to media persons in Panama, US Defence Secretary Pete Hegseth said the US military has the capability to maintain a naval presence in the West Asia region to enforce its blockade of Iran.“Indefinitely the US Navy can maintain a blockade like that because we’ll rotate ships in and out, as we have, and we’ll continue to,” he said.Indicating more economic pressure on Iran in an interview to Newsmax, US Treasury Secretary Scott Bessent said: “Watch this space for more announcements coming next week because we are going to apply measures like have never been seen in the history of economic isolation on a country.”Speaking to Axios earlier this week, US President Donald Trump had said that the US is watching Iran with its huge inflation.Stating that Iran had no money, he said it is in very bad shape economically and has no money to pay its troops. According to Trump, the US naval blockade has exacerbated the Iranian regime’s economic crisis.August natural gas futures were trading at ₹262.60 on MCX during the initial hour of trading on Friday against the previous close of ₹260.60, up by 0.77 per cent.On the National Commodities and Derivatives Exchange (NCDEX), August guargum contracts were trading at ₹11479 in the initial hour of trading on Friday against the previous close of ₹11427, up by 0.46 per cent.August turmeric (farmer polished) futures were trading at ₹18984 on NCDEX in the initial hour of trading on Friday against the previous close of ₹19598, down by 3.13 per cent.Published on August 14, 2026
