You are here: Home » Reuters » News
Business Standard

Oil eases in late trading on U.S. stockpile concerns

Reuters  |  NEW YORK 

By Jessica Resnick-AultNEW YORK (Reuters) - Oil prices settled a shade firmer after retreating from multi-year highs hit early in the day on Tuesday, supported by concerns that U.S. sanctions on Iran are likely to restrict crude exports from one of the biggest producers in the Middle East.Brent crude oil settled at $78.43 a barrel, up 20 cents, or 0.3 percent, after reaching an intraday peak of $79.47 a barrel, up $1.24 and its highest since November 2014. U.S. light crude closed 35 cents, or 0.5 percent, higher at $71.31 a barrel, also not far off the day's peak at $71.92, its highest since ...

This article is no longer available in our repository.

There could be multiple reasons for this.

First Published: Wed, May 16 2018. 10:19 IST
RECOMMENDED FOR YOU