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Oil prices rose
for the first week in two months amid signs of tighter oil supplies from the North Sea to the Middle East, Reuters reported on August 24.
New York futures rose 4.
3 percent this week, ending the longest losing streak since 2015
.
U.
S.
crude inventories fell more than twice what analysts expected last week, while a strike on Total's North Sea fields could dampen supply
.
Analysts at FGE and Cowen & Co said Iran's exports would fall sharply as the U.
S.
imposed sanctions again, while Unipec was said to resume buying U.
S.
oil
again.
Stephen, an analyst at PVM Petroleum Associates in London, said: "This week marks an impressive rebound
in the fate of the oil market.
"This is mainly due to the tightening
of the underlying outlook due to the looming supply shortage in Iran.
"
Oil prices rose
for the first week in two months amid signs of tighter oil supplies from the North Sea to the Middle East, Reuters reported on August 24.
New York futures rose 4.
3 percent this week, ending the longest losing streak since 2015
.
U.
S.
crude inventories fell more than twice what analysts expected last week, while a strike on Total's North Sea fields could dampen supply
.
Analysts at FGE and Cowen & Co said Iran's exports would fall sharply as the U.
S.
imposed sanctions again, while Unipec was said to resume buying U.
S.
oil
again.
Stephen, an analyst at PVM Petroleum Associates in London, said: "This week marks an impressive rebound
in the fate of the oil market.
"This is mainly due to the tightening
of the underlying outlook due to the looming supply shortage in Iran.
"
