TOKYO/BEIJING, July 16 : Oil prices turned lower on Thursday as traders took profits and evaluated the risks from a new wave of U.S. strikes on Iranian military installations, which fuelled fears of renewed full-scale conflict and supply disruptions in the Strait of Hormuz.The United States struck Iran's coas

Brent crude futures climbs to $78.48 while US WTI crude rises to $73.76 a barrel.

Oil prices climbed to their highest level in four weeks on Tuesday after the United States reinstated a naval blockade on Iran and intensified military strikes, while Tehran…