Oil prices settle mixed amid Iran sanction concerns

Source: Xinhua| 2018-09-15 03:29:56|Editor: huaxia
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NEW YORK, Sept. 14 (Xinhua) -- Oil prices settled mixed on Friday as traders assessed the potential impact of U.S. sanctions on Iran.

The United States is renewing sanctions on Iran after withdrawing from a nuclear deal reached in 2015 between Tehran and world powers.

Washington reimposed some of the financial sanctions from Aug. 6, while those affecting Iran's petroleum sector will come into force from Nov. 4.

Analysts believed that persistent concerns about the impact of the U.S. sanctions on Iran's crude exports remains supportive to the oil prices.

Meanwhile, the number of rigs operating in U.S. oil fields rose by seven to a total of 867 rigs this week, oilfield service firm Baker Hughes said in its weekly report on Friday.

The West Texas Intermediate for October delivery rose 40 U.S. cents to settle at 68.99 dollars a barrel on the New York Mercantile Exchange, while Brent crude for November delivery lost 9 cents to 78.09 dollars a barrel on the London ICE Futures Exchange. Enditem

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