Oil Steadies as Violent Iran Clashes Fail to Disrupt Supplies
- OPEC’s No. 3 source of crude clamps down on spreading discord
- New York futures touch highest intraday price since June 2015
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Oil settled close to a 30-month high after days of civil unrest in Iran failed to interrupt supplies from OPEC’s third-biggest crude producer.
Futures declined 0.1 percent in New York. Even as the death toll mounted in Iran amid violent clashes between security forces and protesters, the nation’s petroleum exports have yet to be impacted, according to tanker-tracking data compiled by Bloomberg. Last week’s 3.3 percent advance in the U.S. oil benchmark capped a 12 percent gain for 2017 as OPEC and Russia cooperated to curb a worldwide glut.