4/23, 10:16 AM (Source: TeleTrader)
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Oil continues to rise on US sanctions tightening

The uptick in crude prices boosted by Washington's decision to end waivers on sanctions on Iranian oil imports continued on Tuesday. China, India, Japan, Turkey, Italy, Greece, South Korea, and Taiwan were initially allowed to continue buying Iranian oil despite United States-imposed sanctions, however, starting May 1 all countries will face penalties if they fail to comply with the measures.

International benchmark Brent futures for settlements in May were up 0.23% at 9:57 am CET, going for $73.59 per barrel, while US crude futures jumped 0.56% at the same time as West Texas Intermediate for settlements in the same month stood at $65.94 per barrel.

Breaking the News / JC