India, July 8 -- Crude oil prices have skyrocketed on Wednesday, extending the gains from Tuesday's session, amid renewed Middle East tensions after the U.S. and Iran exchanged fresh strikes while U.S. President Donald Trump called the U.S.-Iran ceasefire "over."
WTI Crude Oil for August month delivery was last seen trading up by $3.16 (or 4.49%) at $73.60 per barrel.
The Middle East tensions that began after U.S.-Israeli forces attacked Iran on February 28 subsided after the U.S. and Iran signed a preliminary Memorandum of Understanding on June 17.
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