Oil falls on possibility of Iran exports resuming after Trump fires hardline adviser - Reuters:
Oil prices edged lower on Tuesday after U.S. President Donald Trump fired national security adviser John Bolton, the chief architect of Trump’s strident stance against Iran, raising speculation of a return of Iranian crude exports to the market.
Saudi Arabia’s new energy minister’s assurances of continued output cuts by the Organization of the Petroleum Exporting Countries and its allies, however, supported the market.
Brent LCOc1 settled at $62.38 a barrel, shedding 21 cents, while U.S. West Texas Intermediate (WTI) futures CLc1 finished 45 cents, or 0.8%, lower at $57.40 a barrel.
Trump abruptly fired Bolton amid disagreements over how to handle foreign policy challenges such as North Korea, Iran, Afghanistan and Russia.
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