India, Aug. 4 -- Extending the heavy losses from yesterday's session, crude oil prices have gone for a freefall on Tuesday after U.S. expressed optimism on an agreement with Iran to reopen the Strait of Hormuz by tomorrow. Later, Qatar confirmed that mediatory efforts to secure U.S.-Iran deal are progressing well.
WTI Crude Oil for September month delivery was last seen trading down by $4.66 (or 5.80%) at $75.68 per barrel.
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