Brent crude near 4-year high as Washington’s Iran sanctions loom - Labarai Ingantattu

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Brent crude near 4-year high as Washington’s Iran sanctions loom

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Reuters
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Tue, 2018-10-02 03:04

SINGAPORE: Oil markets were firm on Tuesday, with Brent crude prices holding near four-year highs reached the previous day as markets adjust to the prospect of tighter supply once the US sanctions against Iran kick in next month.
International benchmark Brent crude oil futures were at $85.02 per barrel at 0255 GMT, up 4 cents from their last close, and not far off the $85.45 peak reached in the previous session, the highest since November 2014.
Brent has risen by around 20 percent from the most recent lows in August.

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