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Thursday, 26 April 2018

Oil Holds Above $68 as Iran Deal Speculation Counters Stockpiles - Bloomberg

Oil Holds Above $68 as Iran Deal Speculation Counters Stockpiles - Bloomberg:

"Oil held above $68 a barrel as America’s potential exit from the Iran nuclear deal increased concern over Middle East supplies, overshadowing expanding U.S. crude output and stockpiles.

Futures were little changed in New York after climbing 0.5 percent Wednesday. French President Emmanuel Macron predicted U.S. President Donald Trump will pull out of the Iran accord. A revival of sanctions on the Persian Gulf state is expected to cut oil exports from the third-largest OPEC producer. Meanwhile, investors largely shrugged off a government report showing record high American crude production and a surprise build in nationwide inventories."



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