India, July 20 -- Crude oil prices have edged higher on Monday amid reports indicating that the U.S. and Iran are set to renew diplomatic efforts to halt the recently erupted confrontation even though both nations have not ceased their attacks on each other.
WTI Crude Oil for August month delivery was last seen trading, up by $0.39 (or 0.47%) at $82.88 per barrel.
After the June 17 Memorandum of Understanding signed between the U.S. and Iran became inoperative since the U.S. began attacks on Iran following Iran firing at ships traveling across the Strait of Hormuz, the U.S. continued its strikes on Iran for the ninth straight day.
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