Oil prices extended gains on Tuesday as the market eyed U.S. output concerns in the aftermath of Hurricane Francine and expectations of lower U.S. crude stockpiles. Brent crude futures for November were up 36 cents,

The cost of oil has dropped to prices below 70 dollars in the international market as Libya agrees to revive its export of crude oil.

Investors should not lose sight of the impact of falling crude oil prices on MCX. That’s because options are the company’s main earnings driver, and crude oil options form a big chunk. In Q1FY25, transaction charges formed 85% of MCX’s total revenues.