UPDATE 8-Oil rebounds even as Iran dashes hopes of OPEC cut extension
Strong demand, OPEC cuts still support prices overall (Updates with comment, adds detail on price rebound) NEW YORK, April 23 (Reuters) - Global benchmark Brent crude turned positive in volatile trade on Monday as it jockeyed between downward pressure after Iran dashed hopes that OPEC would extend its production cap pact and support on fears that U.S. sanctions could dampen Iran’s output. “It’s tweet by tweet,” said Phil Flynn, analyst at Price Futures Group, saying the market is swinging in response to posturing from the U.S. and OPEC ...
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