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International oil prices rose to their highest level of the year on Tuesday

International oil prices rose to their highest level of the year on Tuesday

(Summary description)Reuters reported on April 2. International oil prices rose to a new 2019 high on Tuesday as China's strong economic data eased demand concerns and the United States may impose additional sanctions on

International oil prices rose to their highest level of the year on Tuesday

(Summary description)Reuters reported on April 2. International oil prices rose to a new 2019 high on Tuesday as China's strong economic data eased demand concerns and the United States may impose additional sanctions on

Information

  Reuters reported on April 2. International oil prices rose to a new 2019 high on Tuesday as China's strong economic data eased demand concerns and the United States may impose additional sanctions on Iran and Venezuela's supply disruption. As of early Tuesday (0212) Greenwich Mean Time, Brent crude oil rose 32 cents, or 0.5%, to $ 69.33 per barrel, after hitting $ 69.50, the highest since mid-November last year. U.S. West Texas Intermediate crude (WTI) futures rose 30 cents, or 0.5%, to $ 61.89 a barrel, having previously exceeded $ 62 for the first time since early November.

 

  US and Chinese economic data released on Monday supported oil prices, and China's manufacturing index unexpectedly returned to growth for the first time in four months in March. The most significant monthly increase in China's PMI data since 2012 will ease concerns about potential threats to oil demand. On the supply side, a senior Trump administration official told reporters on Monday that the United States is considering further sanctions on Iran, which will target areas of the economy that have not previously been hit. At the same time, the United States may not maintain sanctions waiver on Iranian oil exports to eight countries due next month. In addition, Venezuela's crude oil export terminal has been suspended due to power outages, and the Organization of the Petroleum Exporting Countries (OPEC) cut production has pushed the group's March supply to a four-year low. (From China Energy Network)

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