SINGAPORE: Oil prices hit and then recoiled from highs last seen in October 2018 yesterday as investors eyed the outcome of this week’s Opec+ meeting when the United States and Iran wrangle over the revival of a nuclear deal, delaying a surge in Iranian oil exports.
Brent crude for August had slipped one US cent to US$76.17 (RM316.30) a barrel while US West Texas Intermediate crude for August was at US$74.09 (RM307.70) a barrel, up four US cents.
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