Crude kept moving upward today, as Brent stood higher than $85, close to the biggest reading in four years hit yesterday, with markets bracing for supply drops after the introduction of U.S. sanctions on Iranian oil sector in November.
Brent futures got up to $85.03 a barrel, 5 cents increase since the end of last session, quite near yesterday’s $85.45, the top level since late 2014. U.S.
WTI futures rose to $75.55 per barrel, 25 cents gain.
Iran’s supply accounted for about 3% of the global daily consumption at the time of recent peak exports.