Mumbai, June 15 -- WTI Crude tanked to $80 per barrel, testing two-month low on reports that US-Iran peace deal is set to reopen Strait of Hormuz. Oil has not lost around 7.40% this month, adding to a 17% slide in last month. Yesterday, the US President Donald Trump declared that a deal with Iran was complete and noted that "oil will flow" through the Strait of Hormuz once the deal is signed on Friday. Iranian Deputy Foreign Minister Kazem Gharibabadi confirmed that the text of a memorandum of understanding had been finalized and that a formal signing ceremony would take place in Switzerland on Friday.
Published by HT Digital Content Services with permission from Capital Market....