close
Advertisement
Can't connect right now! retry

add The News to homescreen

tap to bring up your browser menu and select 'Add to homescreen' to pin the The News web app

Got it!

add The News to homescreen

tap to bring up your browser menu and select 'Add to homescreen' to pin the The News web app

Got it!
REUTERS
September 12, 2018

Oil climbs

Business

REUTERS
September 12, 2018

Singapore : Oil prices rose on Tuesday amid looming U.S. sanctions against Iran´s petroleum industry, despite efforts by Washington to get other major suppliers to make up for the expected disruption.

U.S. West Texas Intermediate (WTI) crude futures were at $67.70 per barrel at 0637 GMT, up 65 cents, or 0.2 percent from their last settlement.

Brent crude futures climbed 38 cents, or 0.5 percent, to $77.75 a barrel on Tuesday.

"Markets are expecting substantial price pressure as Iran sanction loom," said Stephen Innes, head of trading for Asia-Pacific at futures brokerage OANDA in Singapore.

Washington is putting pressure on other countries to also cut Iran imports, with close allies like South Korea and Japan, but also India, showing signs of falling in line.

Topstory minus plus

Opinion minus plus

Newspost minus plus

Editorial minus plus

National minus plus

World minus plus

Sports minus plus

Business minus plus

Karachi minus plus

Lahore minus plus

Islamabad minus plus

Peshawar minus plus