Oil Ends up on Iran; U.S. Stockpile Worry Limits Gains

0

Investing.com – Oil prices rebounded on Tuesday on evidence of falling Iranian exports, but gains were limited by fears of another outsize U.S. crude build in weekly storage data.

U.S. West Texas Intermediate (WTI) crude settled up 14 cents at $71.92 a barrel. Its U.K. peer Brent, the global benchmark for crude, rose 53 cents to $81.31 by 2:53 PM ET (18:53 GMT),

Prices were propped up by data showing Iran exported 1.6 million barrels per day (bpd) in September, down from 2.7 million bpd in June. A rally in stock markets, which pushed the Dow up more than 1.7%, also boosted sentiment in oil.

Read more at : https://www.investing.com/news/commodities-news/oil-up-on-iran-us-stockpile-worry-limits-gains-1646443

LEAVE A REPLY

Please enter your comment!
Please enter your name here