Oil scales 2019 highs on firm China data, Iran sanctions threat
TOKYO - Oil prices climbed to nearly five-month highs on Tuesday, supported by firm Chinese economic data that eased demand concerns, the possibility of more sanctions against Iran and further Venezuelan supply disruptions.
U.S. West Texas Intermediate futures rose 14 cents, or 0.2 percent, to $61.73 a barrel, after earlier rising above $62 for the first time since early November. The Caixin/Markit Manufacturing Purchasing Managers’ Index expanded at the strongest pace in eight months in March, the figures showed. On the oil supply side, the U.S. government is considering additional sanctions against Iran that would target areas of its economy that have not been hit before, a senior Trump administration official told reporters on Monday.
United States Latest News, United States Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Oil rises on Iran sanctions threat, Venezuela shutdownOil prices rose to fresh highs for the year on Tuesday, after a U.S. official sa...
Read more »
Iran says oil market supply/demand balance is fragileThe balance between supply and demand in the oil market is fragile, Iranian Oil ...
Read more »
Canada's Imperial Oil resumes shipping crude by railCanadian crude producer Imperial Oil has recently resumed shipping crude oil by ...
Read more »
Pemex imports crude in February, despite president's aversionMexican state oil company Pemex imported crude oil in February despite the new p...
Read more »
Analysis | China has put Canadian canola oil in the middle of a wider geopolitical disputeA U.S.-China dispute over the December arrest of a Chinese tech executive has entangled Canada.
Read more »
Oil prices rise amid ongoing supply cuts, but recession fears loomOil prices climbed on Tuesday, pushed up by supply cuts led by producer club OPE...
Read more »
China widens ban on Canadian canola imports to second firm, ViterraChina expanded its ban on Canadian canola seed imports on Tuesday to include shi...
Read more »
Oil slips as rising U.S. supply dulls impact from OPEC reductionsU.S.-priced oil slipped again Thursday, deepening its pullback from the closely watched $60 mark as domestic supply data surprised with a gain and a degree of demand uncertainty nags this market.
Read more »
Trump demands that OPEC produce more oil as prices get 'too high'Trump called on OPEC to produce more oil, warning the organization that oil prices are climbing “too high” ahead of the producers’ June meeting to decide whether to extend output cuts
Read more »