New Delhi, June 17 -- Crude oil prices could remain capped near current deflated levels and inflation pressure may stay in check if the US -Iran truce holds and the Strait of Hormuz reopens without disruption, noted Manav Modi, Commodities Analyst at Motilal Oswal Financial Services.

Crude oil prices fell for the second consecutive session on Wednesday, slipping below the key USD 80 per barrel mark after the announcement of a preliminary US-Iran truce agreement earlier this week.

Benchmark Brent crude was trading at around USD 79 per barrel at 11:58 IST and touched an intraday low of USD 78.13 per barrel.

The decline marks the first time since March that Brent crude has traded below USD 80 per barrel. Market sentiment improved followin...