Tuesday, 24 July 2018

Oil steady as U.S.-Iran row balances trade worries | Reuters

Oil steady as U.S.-Iran row balances trade worries | Reuters:

Oil prices steadied on Tuesday as rising tension between the United States and Iran highlighted risks to supply while escalating trade disputes raised the prospect of slower economic growth and perhaps weaker energy demand.

Brent crude oil was unchanged at $73.06 a barrel by 0840 GMT. U.S. light crude was up 15 cents at $68.04.

Both oil benchmarks have fallen this month as crude supplies from Russia, Saudi Arabia and other members of the Organization of the Petroleum Exporting Countries have increased and unscheduled production losses have eased.

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