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Oil prices climb on renewed concerns tied to U.S. sanctions on Iran

Oil prices climbed toward session highs on Friday as reported feedback from U.S. officers surrounding their plans to impose sanctions on Iranian oil renewed concerns over tighter international crude provides. Manisha Singh, assistant secretary of state for economic and industry affairs, told lawmakers at a listening to Thursday that the country is prepared to take the "strongest action" against international locations now not complying with Iran sanctions, including chopping purchases of Iranian oil to 0, according to an article within the Economic Times Friday. Separate experiences Friday, in the meantime, said President Donald Trump nonetheless needs to impose price lists on China in spite of fresh attempts to restart talks between the U.S. and China, which is the second-largest oil client. October West Texas Intermediate oil CLV8, +0.57% rose 50 cents, or 0.7%, to $69.09 a barrel at the New York Mercantile Exchange.

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U.S. oil ends upper as Iran, Hurricane Florence concerns lift prices for the week

Oil futures finish upper Friday, with the U.S. benchmark construction on its gain for the week as experiences say the U.S. nonetheless plans to impose more price lists on China and has ratcheted up pressure on international locations to comply with upcoming sanctions on Iranian oil. Traders also continue to stay up for any impact at the energy marketplace from Hurricane Florence.

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