India, July 16 -- Extending the losses from yesterday's session, crude oil prices have tumbled on Thursday as expectations for a diplomatic approach to resolve the U.S.-Iran crisis strengthens even as the recent flare-up in the conflict persists without a let-down.
WTI Crude Oil for August month delivery was last seen trading down by $0.90 (or 1.13%) at $78.70 per barrel.
The escalation of tension between the U.S. and Iran following an Iranian strike on a Cyprus-flagged vessel recently increased concerns of a widespread war in the Middle East.
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