Sunday , March 29 2020

Oil prices hover near 2019 highs after U.S. ends all Iran sanction waivers

Oil prices hovered near 2019 peaks in early trading on Tuesday after Washington abruptly moved to end all Iran sanctions waivers by May, pressuring importers to stop buying from Tehran.

Brent crude futures were at $74.33 per barrel at 0051 GMT, up 0.4 percent from their last close and not far off 2019 highs of $74.52 reached on Monday.

U.S. West Texas Intermediate (WTI) crude futures were at $65.79 per barrel, up 0.4 percent from their previous settlement, and also just a notch below their $65.92 2019 peak from Monday.

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