Oil edges up as looming Iran sanctions expected to tighten market
Oil prices edged up on Monday, as markets were expected to tighten once US sanctions against oil futures were trading at $79.91 a barrel at 0221 GMT, 13 cents above their last close. US West Texas Intermediate (WTI) crude futures were at $69.24 a barrel, 12 cents above their last settlement. US sanctions against Iran's oil exports will start on November 4. While the Organization of the Petroleum Exporting Countries (OPEC) agreed in June to boost supply to make up for expected Iran disruptions, an internal document reviewed by Reuters ...
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