New Delhi, Aug. 3 -- Crude oil prices are expected to remain range-bound with a bearish bias through August as easing geopolitical risks and improving supply conditions reduce the supply-risk premium, although analysts said developments surrounding the Strait of Hormuz and diplomatic negotiations between the United States and Iran will continue to dictate short-term market movements.

"Crude oil is displaying a sideways-to-bearish trend, though prices are expected to hold within a broader trading range of Rs 7,290 to Rs 8,280 per barrel in the domestic market," Ravinder Kumar, Senior Research Analyst at SMC Group, told ANI.

He added that global crude oil prices are expected to hover in the USD 70-90 per barrel range over the next month....