Oil Firm As OPEC, Russia Resist Calls To Raise Output As Iran Sanctions Loom


Oil Firm As OPEC, Russia Resist Calls To Raise Output As Iran Sanctions Loom

Oil markets opened strongly on Tuesday, with Brent crude remaining near a four-year reached the previous session.

Oil markets have been driven up by looming U.S. sanctions against Iran and an unwillingness or inability by Middle East dominated producer cartel OPEC and Russia to raise output.

Brent crude futures were at $81.39 per barrel at 0042 GMT, up by 19 cents, or 0.2 percent from their last close. This was not far off the November 2014 high of $81.48 a barrel reached the previous day.

U.S. West Texas Intermediate (WTI) crude futures were at $72.22 a barrel, up 14 cents, or 0.2 percent from their last settlement. Read more

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