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Oil edges up on Iran sanctions, but trade disputes dent demand outlook

Reuters  |  SINGAPORE 

By Henning GloysteinSINGAPORE (Reuters) - Oil prices edged up on on Friday on worries that renewed U.S. sanctions against Iran will tighten supplies, although the escalating trade dispute between Washington and Beijing restricted gains.Front-month Brent crude oil futures were at $72.21 per barrel at 0444 GMT, up 14 cents, or 0.2 percent from their last close.U.S. West Texas Intermediate (WTI) crude futures were up by 6 cents at $66.87 a barrel.Despite the possibility of a slowdown in economic growth due to escalating trade tensions, oil markets are for now relatively tight, analysts said, ...

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First Published: Fri, August 10 2018. 10:33 IST
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