Oil hits highest since November as U.S. tightens Iran sanctions
Pump jacks operate in front of a drilling rig in an oil field in Midland, Texas U.S. August 22, 2018. REUTERS/Nick Oxford/File Photo/ LONDON (Reuters) - Oil prices hit their highest since November on Tuesday after Washington announced the end of all waivers on imports of sanctions-hit Iranian crude, pressuring importers to stop buying from Tehran. Brent crude futures rose as high as $74.70, a level not seen since Nov. 1, before paring their increase as the market gained confidence that global supply would remain robust. By 1355 GMT, Brent ...
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