Crude oil today dropped as investors cashed in on a recent rally. However, market sentiment remained solid on hopes for a quick recovery in oil demand in the U.S. and European markets. Fading expectations for an early return of Iranian crude also capped the losses.
 
In intra-day trade, Brent crude prices were trading around USD 74.40 per barrel while WTI crude prices were around USD 73.20 per barrel.