India, Aug. 14 -- Crude oil prices have surged on Friday, partially offsetting the slump seen in the previous session, as the U.S. and Iran remain unrelenting on their demands, leaving the Strait of Hormuz shut for shipping traffic.
WTI Crude Oil for September month delivery was last seen trading up by $1.05 (or 1.29%) at $82.30 per barrel.
Last week, after announcing that the U.S. is low-keying in dealing with Iran, U.S. President Donald Trump stated that he preferred to force Iran to concede to U.S. demands by exerting economic pressure rather than pursuing military offensives.
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