WASHINGTON (dpa-AFX) - Crude oil prices declined on Monday as investors assessed the encouraging progress in talks between the U.S. and Iran held in Switzerland. Sentiment was boosted by steps taken to reduce the Lebanon conflict as well as the Strait of Hormuz tensions.
Brent Oil Futures for September settlement are currently trading at $78.84, plunging 1.5 percent from the previous close of $80.05. In the day's trading, Brent ranged between $78.07 and $81.38. The 52-week trading ranged between $58.72 and $126.41.
With the day's plunge, Brent's price movement has resulted in weekly losses of 4.1 percent and monthly losses of 21.3 percent. Year-to-date gains are a little less than 30 percent. Brent oil's gains over the past year have fallen to 4.4 percent while gains from the levels three years ago stands at 6.8 percent.
West Texas Intermediate (WTI) Crude Oil Futures for August settlement has dropped 0.69 percent from the previous close of $75.85 at its current trading price of $75.33. Prices ranged between a low of $74.65 and a high of $78.08 in the day's trading. Trading has ranged between $54.98 and $117.63 over the past 52 weeks.
Amidst the overnight decline, WTI crude oil is saddled with weekly losses of 5.1 percent and monthly losses of 21.9 percent. Year-to-date gains exceed 31 percent. WTI prices are currently around 0.67 percent above the levels a year ago and 8.8 percent above the levels three years ago.
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