Oil steadies as blockade threat revives supply risk
Arabian Post Staff -Dubai Oil prices edged higher on Friday as Washington’s warning that it could maintain a naval blockade of Iran indefinitely revived fears of tighter crude supplies, countering pressure from a sharp rise in US inventories and a weaker global demand outlook. Brent crude futures were up 1 cent at $87.08 a barrel by 0247 GMT, while US West Texas Intermediate crude rose 6 cents…
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