Mumbai, July 31 -- WTI crude oil futures hold around $82 per barrel mark on Friday morning in Asia following renewed hopes for a diplomatic solution to the US-Iran conflict. Tanker traffic through the Strait of Hormuz also increased after a recent slowdown, allowing millions of barrels of crude to pass. However, the counter is set for a monthly gain of over 18% in July as renewed fighting between the US and Iran threatened further disruptions to Middle Eastern energy supplies and kept oil prices elevated following the sharp decline in the previous month. Currently, the counter is quoting at $82.32 per barrel, down 1.5% on the day.
Published by HT Digital Content Services with permission from Capital Market....