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Oil prices log 3-year highs before Trump issues Iran-sanction decision
Thursday, 11 January 2018 18:43 WIB | ENERGY |MinyakWTIBrentOil,

Oil prices hit a fresh three-year high on Thursday ahead of a U.S. decision on whether to extend temporary waivers on sanctions against Iran.

Brent crude the global oil benchmark, rose 32 cents, or 0.5%, to $69.52 a barrel on London™s ICE Futures exchange. On the New York Mercantile Exchange, West Texas Intermediate futures were trading up 39 cents, or 0.6%, at $63.96 a barrel.

U.S. President Donald Trump is set to review whether to waive or reimpose sanctions on Iran this week, a decision that has implications on Iran™s oil exports.

The review comes after Iran has faced two weeks of antigovernment protests, after its economy didn™t benefit to the extent expected from the lifting of international sanctions two years ago.

On Wednesday, the U.S. Energy Information Administration reported that crude oil stocks fell by almost 5 million barrels in the week ended Jan. 5.

Source: Marketwatch

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