New Delhi, July 13 -- Crude oil is likely to trade range-bound to higher while gold is expected to trade range-bound to lower in the coming sessions amidst fresh US-Iran strikes that has put the Strait of Hormuz back in focus and as markets price in the prospects for interest-rate hikes to combat inflation, according to a research report by domestic brokerage firm Nirmal Bang.

The report has put energy at the centre of the action. "On the New York Mercantile Exchange, Crude oil is trading higher. We expect crude oil to trade range-bound to higher for the day as oil jumped as the US and Iran exchanged fresh strikes, with the sides offering conflicting statements on whether the Strait of Hormuz remains open to shipping," Nirmal Bang said....