India, Aug. 7 -- Brent Crude Oil Price Today (August 7): Global crude oil prices extended their gains on Friday as investors monitored rising geopolitical tensions surrounding the Strait of Hormuz, one of the world's most critical energy shipping routes. Concerns over potential restrictions on maritime traffic through the strategic waterway continued to support oil prices after Iran and Oman discussed new proposals affecting vessel movement and transit fees.

Brent crude climbed above the $83-per-barrel mark, while US benchmark West Texas Intermediate (WTI) crude traded close to $79 a barrel amid renewed supply concerns.

Brent Crude Oil Price Today (August 7)

Brent crude futures gained 99 cents, or 1.2%, to trade at $83.48 per barrel du...