Oil prices divergence amid fears of tensions between Iran and America


Oil prices mixed as Brent crude recovered from earlier losses, as market participants were divided in their concerns between rising tensions between the United States and Iran and signs of oversupply.

Brent crude rose 6 cents to $ 73.12 a barrel by 7:06 GMT.

WTI fell 3 cents to $ 67.86 a barrel, reversing earlier losses. The contract fell 37 cents the previous day.

The market rose after US President Donald Trump warned of dire consequences for Iran if the United States threatened.

Tehran is under mounting pressure from the United States, while the Tramp administration urges countries to halt all imports of Iranian oil from November.

Saudi Arabia and top producers are increasing their supplies to offset the impact of losses likely to occur as the US deadline approaches before sanctions are imposed on Tehran in November.

Meanwhile, traders said US crude stocks at the delivery center in Cushing, Oklahoma, increased in four days to Friday, according to the information company Gainscape.

On a weekly basis, inventories were expected to fall in the center for the 10th week in a row, traders said.

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