Crude oil prices extend decline, reach pre-US-Iran war level; Brent slips to $73 per barrel

Crude oil prices extended their decline, slipping to pre-US-Iran war levels amid easing geopolitical tensions. Brent crude futures for August delivery fell 0.54 percent to $73.34 per barrel, while US WTI crude slipped 0.38 percent to $70.07 per barrel. The price drop is favorable for India, a major oil importer, as it eases the import bill and inflationary pressures.