Monday 8 July 2019

Oil steadies as demand concern counters Middle East tensions - Reuters

Oil steadies as demand concern counters Middle East tensions - Reuters:

Oil prices steadied on Monday as tensions over Iran’s nuclear program were tempered by global economic growth concerns and consequently oil demand.

Brent crude futures were down 1 cent by 1122 GMT at $64.22 a barrel. U.S. West Texas Intermediate (WTI) was down 2 cent at $57.49.

Iran on Monday threatened to restart deactivated centrifuges and step up its enrichment of uranium to 20% in a move that further threatens the 2015 nuclear agreement that Washington abandoned last year.

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