Mumbai, Aug. 3 -- WTI Crude oil futures slumped on Monday morning after US President Donald Trump put a planned strike on Iran on hold to pave the way for peace talks. Supply hopes were boosted and the WTI Crude oil futures are currently down 6.30% at $79.36 per barrel. The MCX Crude oil futures also melted as a result and are down 6.50% at Rs 7583 per barrel. Trump noted over weekend that US has been asked by Iran, and other Middle Eastern Countries, to hold off any attack in that the perimeters of a deal has been agreed to. He also noted that this would include the Immediate and total opening of the Hormuz Strait and an end to Iran's nuclear threat. Oil had jumped around 22% in last month but has stated the new month on a tepid note.
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