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Oil prices rise amid risk of supply disruptions

From Reuters - April 16, 2018

SINGAPORE (Reuters) - Oil prices rose on Tuesday amid worries there could be a high risk of disruptions to supply, especially in the Middle East.

Brent crude oil futures LCOc1 were at $71.80 per barrel at 0120 GMT, up 38 cents, or 0.5 percent, from their last close.

U.S. West Texas Intermediate (WTI) crude futures CLc1 were up 39 cents, or 0.6 percent, at $66.61 a barrel.

Traders said oil markets were receiving general support due to a sense that there were high risks of supply disruptions, including a potentially spreading conflict in the Middle East, renewed U.S. sanctions against Iran and falling output as a result of political and economic crisis in Venezuela.

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