Crude oil futures fluctuated in Asia today, trading above $76 per barrel after two days of gains. This marks the first rise after four weeks of losses, driven by a weaker US dollar, potential Fed rate cuts, and positive US job data. The gains were supported by a weaker US dollar, down 1% this month, and expectations of more aggressive Fed rate cuts. Tensions in the Middle East, particularly the possibility of an Iranian retaliatory strike on Israel, could further impact oil supply. Meanwhile, MCX August oil futures dropped Rs 19 to Rs 6,403 per barrel.

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