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Oil prices climb as market torn between Iran waiver loss, surging US supply

Brent crude futures were at $74.60 per barrel at 0512 GMT, 3 cents above their last close

Reuters  |  Singapore 

Oil prices were torn on Thursday, supported by tightening sanctions against Iran announced this week and pressured by a surge in US supply and concerns of an economic slowdown. Brent crude futures were at $74.60 per barrel at 0512 GMT, 3 cents above their last close. US West Texas Intermediate (WTI) crude futures were at $65.80 per barrel, 9 cents below their previous settlement. Crude futures rose to 2019 highs earlier in the week after the United States said on Monday it would end all exemptions for sanctions against Iran, demanding countries halt oil imports from Tehran from ...

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First Published: Thu, April 25 2019. 11:57 IST
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