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CRUDE OIL NEWS UPDATED BY ROYAL TRADERS

Live Price Update 

Oil market torn between loss of Iran waivers, surging U.S. supply

Oil prices were torn on Thursday, supported by tightening sanctions against Iran announced this week and pressured by a surge in U.S. supply and concerns of an economic slowdown.

Brent crude futures were at $74.60 per barrel at 0512 GMT, 3 cents above their last close.
U.S. West Texas Intermediate (WTI) crude futures were at $65.80 per barrel, 9 cents below their previous settlement.

Crude futures rose to 2019 highs earlier in the week after the United States said on Monday it would end all exemptions for sanctions against Iran, demanding countries halt oil imports from Tehran from May or face punitive action from Washington.

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