Oil holds above $64 before US supply report, eyes on Iran
Oil held above $64 a barrel on Wednesday before a US government report expected to show domestic crude inventories fell for an eighth week, a sign that a supply glut is easing. The industry group American Petroleum Institute (API) on Tuesday reported a drop in US crude stocks, ahead of Wednesday’s official data. Doubts over the likelihood of a deal next week on Iran’s nuclear work also supported prices. Brent crude rose 10 cents to $64.55 a barrel by 7.55 a.m. EDT. US crude gained 9 cents to $61.10. Both contracts made gains on Tuesday. ...
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