Crude oil futures traded higher on Wednesday morning following reports of Iranian attacks on Kuwait and Bahrain.
At 10.01 am on Wednesday, August Brent oil futures were at $97.02, up by 1.06 per cent, and July crude oil futures on WTI (West Texas Intermediate) were at $94.91, up by 1.23 per cent.
June crude oil futures were trading at ₹9095 on Multi Commodity Exchange (MCX) during the initial hour of trading on Wednesday against the previous close of ₹8950, up by 1.62 per cent, and July futures were trading at ₹8811 against the previous close of ₹8688, up by 1.42 per cent.
A press release by the US Central Command said the US forces successfully defeated multiple Iranian ballistic missiles and drones, and conducted self-defence strikes on Qeshm Island in response to attempted attacks by Iran across West Asia on June 2.
Iran launched several ballistic missiles toward regional neighbours. However, all failed to hit their intended targets, it said.
Two Iranian missiles fired at Kuwait fell short or broke apart enroute, and three missiles launched at Bahrain were immediately intercepted by US and Bahrain air defence forces.
Moments earlier, US Central Command forces shot down three one-way attack drones launched by Iran toward civilian mariners that were rightfully transiting regional waters. American forces also conducted self-defence strikes on an Iranian military ground control station on Qeshm Island, it said.
US Central Command also said that US forces disabled an unladen oil tanker that was attempting to sail toward an Iranian port on the Arabian Gulf on June 2.
It enforced blockade measures against Botswana-flagged M/T Lexie as it transited international waters toward Kharg Island. The ship’s crew ignored repeated warnings, failing to comply with directions from US forces multiple times over a 24-hour period, Central Command said.
A US aircraft ultimately disabled the vessel by firing a Hellfire missile into the ship’s engine room, preventing the tanker from reaching Iran.
US Central Command began implementing the blockade of all maritime traffic entering and exiting Iranian ports on April 13. US forces have disabled six commercial vessels and redirected 122 as the ceasefire with Iran continues, the Central Command said.
June menthaoil futures were trading at ₹977.50 on MCX during the initial hour of trading on Wednesday against the previous close of ₹970.90, up by 0.68 per cent.
On the National Commodities and Derivatives Exchange (NCDEX), June guarseed contracts were trading at ₹5950 in the initial hour of trading on Wednesday against the previous close of ₹5929, up by 0.35 per cent.
June jeera futures were trading at ₹18865 on NCDEX in the initial hour of trading on Wednesday against the previous close of ₹18920, down by 0.29 per cent.
Published on June 3, 2026
