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4/25, 12:01 PM (Source: TeleTrader)
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Oil extends gains, Brent trades above $75 pb

Crude prices continued to trade in the green with international benchmark Brent trading well above the $75 per barrel mark for the first time in 2019 as investors digested the latest news on Iranian oil sanctions. The United States continues to pressure the international community to stop buying Iranian crude after Washington's decision to end waivers on sanctions on Tehran's oil imports.

Meanwhile, the suspension of Russian oil delivery by Poland, Germany and reportedly, the Czech Republic, also boosted investment incentives in the oil market. Earlier today, the countries halted the import of Russian crude due to poor quality.

West Texas Intermediate for June delivery increased 0.44%, changing hands for $66.18 per barrel at 5:49 am ET while Brent for settlements in the same month rose 1.15% to trade for $75.50 per barrel at 5:50 am ET.

Breaking the News / VK