Oil gains 1 percent ahead of shortfall in Iran supply
By Trend
Oil prices rose by nearly 1 percent on Thursday, driven by the prospect of a shortfall in global supply once U.S. sanctions against major crude exporter Iran come into force in just five weeks’ time, Reuters reports.
U.S. President Donald Trump this week demanded that OPEC raise production to prevent further price rises ahead of key congressional elections in early November.
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