Production in the Persian Gulf countries may recover further. (iStock)
After the U.S. lifts sanctions on former Iranian oil officials and two other Iranians involved in oil trading, oil has reversed profits, potentially paving the way for further recovery in Persian Gulf production. Open.
New York futures contracts fell 1.8% on Thursday, but losses shrank.
The market has been watching for signs of progress in talks to revive the 2015 nuclear deal between Iran and the world’s major powers.
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Oil falls due to lifting sanctions on former Iranian officials
Source link Oil falls due to lifting sanctions on former Iranian officials