Crude oil futures traded higher on Thursday morning as markets feared that the US may attack Iran in the coming days.
At 9.59 am on Thursday, April Brent oil futures were at $70.63, up by 0.40 per cent, and April crude oil futures on WTI (West Texas Intermediate) were at $65.38, up by 0.51 per cent. February crude oil futures were trading at ₹5956 on Multi Commodity Exchange (MCX) during the initial hour of trading on Thursday against the previous close of ₹5903, up by 0.90 per cent, and March futures were trading at ₹5971 against the previous close of ₹5913, up by 0.98 per cent.
Iran has issued a notice to airmen (NOTAM) about its plans to launch rockets across its south on Thursday from 330 GMT to 1330 GMT. This follows navy drills by Iran earlier this week in the Hormuz Strait. Reports also said that Iran plans to conduct a joint naval exercise with Russia on Thursday.
It is to be noted that the US has been preparing for a military action in Iran, and it has already deployed aircraft carriers in West Asia region.
Meanwhile, US Vice President JD Vance said that the US is weighing options on whether to continue diplomatic talks with Iran or pursue other options.
In a post on social media platform Truth Social, US President Donald Trump said: “…Should Iran decide not to make a Deal, it may be necessary for the United States to use Diego Garcia, and the Airfield located in Fairford, in order to eradicate a potential attack by a highly unstable and dangerous.”
March natural gas futures were trading at ₹269.70 on MCX during the initial hour of trading on Thursday against the previous close of ₹263.80, up by 2.24 per cent.
On the National Commodities and Derivatives Exchange (NCDEX), March cottonseed oilcake contracts were trading at ₹3,275 in the initial hour of trading on Thursday against the previous close of ₹3,258, up by 0.52 per cent.
February guargum futures were trading at ₹9,451 on NCDEX in the initial hour of trading on Thursday against the previous close of ₹9,705, down by 2.62 per cent.
Published on February 19, 2026
