India, July 18 -- Crude oil prices turned lower on Friday as yesterday's attacks on oil fields in Kurdistan that triggered supply fears were outweighed by OPEC's demand forecast leading to concerns of surplus production.
Today, WTI Crude Oil for August delivery closed down by $0.20 at $67.34 per barrel.
The September month Brent Crude contract was last seen trading today, down by $28, to $69.24 per barrel.
In a significant development, the EU has reached an agreement on the 18th round of sanctions against Russia over its aggression in Ukraine.
The package proposes a ban on transactions with Nord stream gas pipelines, and the EU wants lower the G7 price cap on Russia's crude oil to $47.60 per barrel from $60.
These sanctions when implem...