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Oil prices rise as Middle East tensions simmer


Monday, 24 June 2019 08:47 WIB

Minyak WTIMinyak jenis Brent


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Oil prices climbed on Monday as tensions remain high between Iran and the United States, with U.S. Secretary of State Mike Pompeo saying ''significant'' sanctions on Tehran would be announced.

Brent futures were up 37 cents, or 0.6%, at $65.57 a barrel by 0044 GMT.

West Texas Intermediate crude was up 43 cents, or 0.8%, at $57.86 a barrel.

U.S. President Donald Trump said last week that he called off a military strike to retaliate for Iran's downing of an unmanned U.S. drone, and he said on Sunday that he was not seeking war with Iran.

Oil prices surged last week after Iran shot down a drone that the United States claimed was in international airspace and Tehran said was over its territory.

Amid the escalating tensions Brent racked up a gain of about 5% last week, its first weekly gain in five weeks, and WTI jumped about 10%, its biggest weekly percentage gain since December 2016.

Source: Reuters


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