India, June 12 -- After moving sharply higher in the previous session, crude oil futures showed a modest move back to the downside during trading on Thursday.
WTI crude oil for July delivery edged down $0.11 to $68.04 per barrel after soaring $33.17 to $68.15 a barrel during Wednesday's session. August Brent crude oil was last seen down by $0.08 to $69.71.
While profit taking contributed to a modest pullback by crude oil, selling pressure was subdued amid escalating tension between the US and Iran over the latter's nuclear developments.
Yesterday, President Donald Trump had stated that he was less confident of a US-Iran nuclear deal though he affirmed that the US would not let Iran develop nuclear weapons.
Responding, Iran's defense min...