Crude Oil Declines as Global Glut Outweighs Middle East Tensions

By
Rakteem Katakey
and
Moming Zhou
  • Saudi Arabia cuts ties with Iran after embassy attacked
  • Cushing crude inventories rise to record high, EIA data show

Oil Rises as Saudi Arabia Cuts Ties With Iran

Oil fell, erasing an earlier gain, as a global glut outweighed an increase in tension between Saudi Arabia and Iran.

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