rent crude oil futures, Front-month, were at USD 77.63 per barrel, 1 cent above their last close. US (WTI) crude futures were at USD 67.65 a barrel,
Crude Oil prices soared on Friday, since trader’s attention focused on US sanctions against Iran’s crude exports that starts next month to tighten global markets.
The gains helped recover some of the losses from the last session on account of looming US inventories and after Russia and Saudi Arabia said they would raise output to some extent make up for expected disruptions from Iran.
Crude Oil prices on Thursday fell from four-year highs that hit the previous session, on account of rising U.S inventories after reports that Saudi Arabia struck a private deal in Sept. to lift crude output. Brent crude oil futures were Read more
Crude Oil prices rose higher on Friday amid Investors looking to measure the potential impact on supply on Iran’s crude exports. The Brent crude oil futures contract, for December, had risen 0.22% to USD 81.56 per barrel during early trade.