Brent oil hits four-year high ahead of Iran sanctions, but demand may stutter | Reuters:
Brent crude oil prices rose to their highest since November 2014 on Monday ahead of U.S. sanctions against Iran, the third-largest producer in the Organization of the Petroleum Exporting Countries (OPEC), that kick in next month.
Benchmark Brent crude oil futures LCOc1 rose to as much as $83.32 a barrel on Wednesday and were at $83.09 at 0335 GMT, still 36 cents, or 0.4 percent above their last close.
U.S. West Texas Intermediate (WTI) crude futures CLc1 were up 19 cents, or 0.3 percent, at $73.44 a barrel.
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