Brent crude fell 5.3% to settle at $79.36 a barrel on Tuesday, while US benchmark West Texas Intermediate (WTI) crude declined 5.7% to close at $75.77 a barrel.
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Oil prices had retreated sharply in the previous session after Trump said he shelved the planned strike following requests from Tehran and other Middle Eastern countries.
Oil prices had rallied more than 1% in the previous session, with Brent settling at $90.12 a barrel and US WTI crude closing at $84.67.
Petrol and diesel prices remained unchanged across India on August 1 despite Brent crude ending July above $90 per barrel
