Economic news

Oil keeps growing on declining exports from Iran

Crude prices are recovering after drops in the previous session, with additional signs that number three producer of OPEC Iran has its exports slumping ahead of U.S. sanctions, while a hurricane sweeping across the Gulf of Mexico also drove oil up.

Photo: Reuters

Brent climbed to $84.46 per barrel, rising 55 cents, following yesterday’s fall to $82.66.

U.S. WTI grew to $74.74, adding 45 cents.

Iranian oil sales continued shrinking last week, according to a source familiar with the situation, with importers looking for other sellers, as U.S. sanctions are scheduled for November 4.

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