Wednesday, 3 October 2018

Crude Oil Prices Rose Ahead Of U.S. Sanctions Against Iran

Crude oil trading range for the day is 5259-5633.

Crude oil prices rose ahead of U.S. sanctions against Iran, that kick in next month.

Prices were supported by a report of a stagnant rig count in the United States, which points to a slowdown in U.S. crude production.

OPEC delivered only a limited increase in oil production in September, as a cut in Iranian shipments due to U.S. sanctions offset higher output.

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