Global benchmark Brent crude fell 2.6 percent to USD 69.62 per barrel, leading to broad-based gains in crude oil-sensitive sectors including aviation, oil marketing companies, among others.

U.S. crude oil futures rallied more than 6 percent to peak at $78 a barrel, more than $1 higher than the price on Jan. 20 when Trump was inaugurated. That jump is likely to filter through to gasoline prices just as drivers prepare to hit the road for the long July 4 weekend next week.