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Oil caught between Iran pressures and surging US output

Wednesday, May 02, 2018 - 01:49

Oil prices rose again on Wednesday on concerns the U.S. may re-impose sanctions on major exporter Iran, before giving up gains on new evidence of surging U.S. output. As David Pollard reports, the moves came as the IMF said Saudi Arabia needs prices to average $85-$87 a barrel this year to balance its state budget.

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Oil prices rose again on Wednesday on concerns the U.S. may re-impose sanctions on major exporter Iran, before giving up gains on new evidence of surging U.S. output. As David Pollard reports, the moves came as the IMF said Saudi Arabia needs prices to average $85-$87 a barrel this year to balance its state budget.

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Oil caught between Iran pressures and surging US output

Wednesday, May 02, 2018 - 01:49