India, June 26 -- Reversing the gains from yesterday's session, crude oil prices have plunged on Friday as optimism increases on resumption of oil flow from the Arab region, overshadowing a sudden projectile attack incident on a cargo ship sailing across the Strait of Hormuz yesterday.
WTI Crude Oil for August month delivery was last seen trading down by $2.60 (or 3.62%) at $69.32 per barrel.
The confidence boost oil and energy traders received following last week's U.S.-Iran Memorandum of Understanding is holding up as shipping traffic across the Strait of Hormuz improved.
For comments and feedback contact: editorial@rttnews.com
Published by HT Digital Content Services with permission from RTT News....