India, June 30 -- Crude oil prices closed lower on Monday amid a backdrop of easing Middle Eastern tensions as well as concerns of excess supply as OPEC+ plans to scale up production.
WTI Crude Oil for August delivery closed down by $0.41 to settle at $65.11 per barrel today.
August month Brent crude oil was last seen trading down by $0.15 to $67.62 per barrel today.
The June 12th attack on Iran by Israel pushed oil and energy prices higher.
With the US President Donald Trump announcing a ceasefire between the two nations on June 24, oil lost the risk-premium it enjoyed for 12 days and started to give away its gains. Crude prices tumbled over 11% last week.
Pressure has built on oil prices as OPEC+ reportedly prepares for a fourth bump...