Brent Crude Oil Hits Four-Year High ahead of Iran Sanctions
Monday, 1 October 2018 10:02 WIB | ENERGY |MinyakWTIBrentOil,

Brent crude oil prices hit their highest level since November 2014 on Monday ahead of U.S. sanctions against Iran that kick in next month.

Brent crude oil futures were trading at $83.24 per barrel at 0228 GMT, up 51 cents, or 0.3 percent, their highest level since November 2014.

U.S. West Texas Intermediate (WTI) crude futures were up 37 cents, or 0.5 percent, at $73.62 a barrel. WTI prices were supported by a stagnant rig count, which points to a slowdown in U.S. crude production.

Brent was pushed up by the looming sanctions against Iran, which will start targeting its oil sector from Nov. 4.

Source : Reuters

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