Oil Prices Mixed As U.S. Inventories Fall, Iran Sanctions Return

(Undated) — Oil prices are steady, as U.S. inventories fall and the Trump administration reimposes sanctions on Iran.

West Texas Intermediate crude is up eleven cents a barrel, to $69.28 while international benchmark Brent crude is down four cents, to $74.61 a barrel.

The new sanctions on Iran target its purchase of dollars, the currency used for oil trading.

Also, the American Petroleum Institute reported yesterday that crude inventories in the U.S. fell by six-million barrels last week.