India, June 17 -- Oil prices edged up slightly on Wednesday, after having fallen sharply in the previous session on expectations of increased supply.
Brent crude futures for August delivery were up 0.2 percent at $79.10 a barrel after tumbling 5 percent on Tuesday amid investor optimism for an end to the U.S.-Iran war and a possible reopening of the Strait of Hormuz, crucial for oil and gas transit worldwide.
WTI crude futures for July delivery were up 0.1 percent at $76.11 after the American Petroleum Institute estimated that commercial crude oil inventories in the United States fell by 8.33 million barrels during the week ended June 12.
For comments and feedback contact: editorial@rttnews.com
Published by HT Digital Content Services w...