March 26, 2019
Source: Reuters

Supply cuts and US sanctions support oil prices

OPEC-led supply cut and US sanctions on Iran and Venezuela pushed oil prices up in the international market on Tuesday. International Brent crude futures rose 0.4%, to $67.46 per barrel. US WTI crude futures edged up 0.8% and were traded at $59.31 per barrel. However, market analysts have cautioned of a sharp economic slowdown, which could weigh on the crude markets.

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