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Oil stays up as U.S. fuel markets get tighter

Prices of oil kept solid today as fuel markets in the United States show signs of tightening, however, the use of the country’s reserve crude to a certain degree softened an awaited supply drop connected to nearing sanctions on Iran.

Photo: Reuters

U.S. WTI futures CLc1 for next month grew to $66.73 for a barrel, an increase of 30 cents.

Tightening prospects for petroleum products in the following few months boosted U.S. markets, traders explained. U.S. inventories for the likes of diesel and heating oil in the current season are at record lows in four years.

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