Oil Steadies After Slump as Traders Still Wary on Supply Risks - Bloomberg:
Oil steadied after another sharp pullback as traders remained wary over whether supplies will be sufficient to cover a range of global disruptions.
Futures in New York traded near $68 a barrel, having tumbled 4.2 percent on Monday as Libya restored output at some fields and the U.S. signaled it may take a slightly softer approach with sanctions on Iranian exports. Iraq is shipping the most crude since 2016 and the U.S. is considering tapping emergency reserves. Still, with American inventories forecast to have dropped further from the lowest level since 2015, traders remain on edge.
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