U.S. Oil Ends Higher as Brent Falls

Oil futures split two ways on Monday, with U.S. prices ending higher but global benchmark Brent crude posting a loss as the U.S. announced new sanctions on Iran, MarketWatch reported.

President Trump on Monday signed an executive order imposing financial sanctions on Iranian leaders, according to pool reports from the White House.

In Monday dealings, August West Texas Intermediate crude climbed by $0.47, or 0.8%, to settle at $57.90 a barrel on the New York Mercantile Exchange. That was the highest front-month contract finish since May 29, according to Dow Jones Market Data. Prices rose 8.8% for last week, the biggest weekly percentage climb since the week ended Dec. 2, 2016.

Meanwhile, international benchmark August Brent crude ended down $0.34, or 0.5%, at $64.86 a barrel on ICE Futures Europe. The contract wrapped trading Friday at $65.20 — the highest since May 30. Front-month Brent saw a 5.1% gain last week.

Receive News & Ratings Via Email - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings with MarketBeat.com's FREE daily email newsletter.

Leave a Reply

Your email address will not be published. Required fields are marked *

*