Oil falls more than $1 on greater flows despite US-Iran war

July 31 : Oil prices fell on Friday but kept on track for a monthly rise of about a fifth, as more supplies flowed through crucial maritime chokepoints, despite a lack of major breakthroughs in talks between the United States and Iran.Brent futures fell $1.03, or 1.2 per cent, to $88 a barrel by 0215 GMT, while U.S. West Texas Intermediate (WTI) crude slipped $1.50, or 1.8 per cent, to $82.09 a barrel. On a monthly basis, both benchmarks were set to rise about 20 per cent. Crude oil is edging lower as rising tension Middle East tension is being offset by signs of increased flows in the Strait of Hormuz, said Daniel Hynes, analyst at ING.The strait, which usually carries about a fifth of global shipments of crude oil and liquefied natural gas, has been a focal point for oil markets as it ha