Singapore : Oil prices rose on Wednesday, lifted by tensions in the Middle East and healthy demand, although rising U.S. output continued to weigh on markets.
U.S. West Texas Intermediate (WTI) crude futures were at $63.80 a barrel at 0230 GMT, up 26 cents, or 0.4 percent, from their previous close.
Brent crude futures were at $67.71 per barrel, up 29 cents, or 0.4 percent.
Saudi Arabia´s Crown Prince Mohammed bin Salman on Tuesday arrived in Washington for a state visit, raising speculation the United States could reimpose sanctions on Iran, following rewnewed criticism of the 2015 nuclear deal. "The presence of the Saudi Crown Prince in Washington and his clear agenda to ramp up pressure on Iran, has for me, been the key driver of oil, which rose strongly," said Greg McKenna, chief market strategist at futures brokerage AxiTrader.
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