February crude oil futures were trading at ₹5712 on MCX during the initial hour of trading on Monday against the previous close of ₹5824, down by 1.92 per cent, and March futures were trading at ₹5714 against the previous close of ₹5829, down by 1.97 per cent.
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Crude oil futures traded lower on Monday morning as diplomatic talks between the US and Iran eased concerns over global supply disruptions.
At 9.58 am on Monday, April Brent oil futures were at $67.36, down by 1.01 per cent, and March crude oil futures on WTI (West Texas Intermediate) were at $62.93, down by 0.98 per cent. February crude oil futures were trading at ₹5712 on Multi Commodity Exchange (MCX) during the initial hour of trading on Monday against the previous close of ₹5824, down by 1.92 per cent, and March futures were trading at ₹5714 against the previous close of ₹5829, down by 1.97 per cent.
In their Commodities Feed for Monday, Warren Patterson, Head of Commodities Strategy of ING Think, and Ewa Manthey, Commodities Strategist, said oil prices came under renewed pressure in early Monday morning trading in Asia after nuclear talks between the US and Iran were seen as constructive. A further round of talks is being planned.
Mentioning that there si still plenty of uncertainty over how things will evolve, they said this suggests the market will likely continue to price in a risk premium.
Though the indirect talks were reportedly constructive, the US on Friday imposed additional sanctions targeting Iranian oil exports. US President Donald Trump also signed an executive order on the same day. It will allow tariffs on goods from countries that do business with Iran. He stopped short of applying the tariffs, they said.
“We’re likely to get plenty of noise over the week concerning views on the oil market, with International Energy Week kicking off in London this week. In addition, the EIA will release its Short-Term Energy Outlook on Tuesday. This is followed by OPEC’s monthly oil market report on Wednesday, and the IEA’s monthly oil report on Thursday,” they said.
February natural gas futures were trading at ₹291.80 on MCX during the initial hour of trading on Monday against the previous close of ₹320.20, down by 8.87 per cent.
On the National Commodities and Derivatives Exchange (NCDEX), February castorseed contracts were trading at ₹6422 in the initial hour of trading on Monday against the previous close of ₹6393, up by 0.45 per cent.
April dhaniya futures were trading at ₹11026 on NCDEX in the initial hour of trading on Monday against the previous close of ₹11210, down by 1.64 per cent.
Published on February 9, 2026
