Oil Bounces After Longest Losing Run Since 2015 on Supply Risks - Bloomberg

Oil Bounces After Longest Losing Run Since 2015 on Supply Risks - Bloomberg:

The prospect of tighter supplies from the U.S. to the North Sea and Iran is helping oil recover this week from the longest losing streak since 2015.

Futures in New York are headed for a 3.7 percent gain this week, the first advance in two months. In the U.S., latest data showed stockpiles dropped by more than twice what analysts had expected, while supplies in the North Sea are under threat from labor strikes at Total SA’s fields. Uncertainty also persists over how Iran’s exports will be affected by impending American sanctions against OPEC’s third-biggest producer.