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Oil edges up on US sanctions against Iran, but trade dispute weighs

Traders said prices were lifted by expectations of a drop in supply once US sanctions against major oil exporter Iran take effect from November

Reuters  |  SINGAPORE 

Oil prices edged up on Tuesday, supported by expectations of supply cuts once US sanctions against Iran bite in November, but capped by worries a Sino-US trade dispute will drag on fuel demand growth. Brent crude oil futures were at $72.24 per barrel at 0104 GMT, up 3 cents from their last close. U.S. West Texas Intermediate (WTI) crude futures were up 24 cents, or 0.4 per cent, at $66.67 per barrel. Traders said prices were lifted by expectations of a drop in supply once US sanctions against major oil exporter Iran take effect from November. In an attempt to ...

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First Published: Tue, August 21 2018. 08:01 IST
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