Hot Commodities: WTI Crude melts more than 5% to test one-week low in Asia

WTI Crude oil futures slumped in Asian trades on Monday after the United States and Iran held back from launching fresh strikes over the weekend. This softened the sentiments after a flare up in US-Iran worries had pushed up oil to seven-week high. The WTI crude oil futures tanked as a slide under $90 per barrel extended and is down more than 5% at $84.46 per barrel. This slide has taken oil near one-week low. The counter had zoomed around 10% in last session before the pullback.

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