ADVERTISEMENT

Oil prices rise on lower US crude inventories, looming Iran sanctions (Update)


  • Oil & Gas
  • Wednesday, 12 Sep 2018

U.S. West Texas Intermediate (WTI) crude futures were at $69.81 per barrel at 0047 GMT, up 56 cents, or 0.8 percent, from their last settlement.  Brent crude futures climbed 24 cents, or 0.3 percent, to $79.30 a barrel.

U.S. West Texas Intermediate (WTI) crude futures were at $69.81 per barrel at 0047 GMT, up 56 cents, or 0.8 percent, from their last settlement. Brent crude futures climbed 24 cents, or 0.3 percent, to $79.30 a barrel.

SINGAPORE: Oil prices rose on Wednesday after a report of falling crude inventories and the looming sanctions against Iran fueled expectations of a tightening market.

Prices were also pushed up by Hurricane Florence, which is expected to make landfall on the U.S. East Coast on Friday, and which has caused fuel shortages following the evacuation of millions of households and businesses.

Oil & Gas , Markets , Corporate News

   

ADVERTISEMENT