Oil futures rise as tightening sanctions on Iran spark late-week rally.

摘要

US and UK crude benchmark prices were bumpy early in the week to July 13 before rallying at the end of the period on supply concerns. Brent setded at two-month high. The US government announced on Thursday that it was ramping up sanctions against Iran in an ongoing dispute between the West and Tehran's nuclear program. The move could result in fewer barrels of Iranian crude in the global market, on top of sharp drops in Iranian exports that have already been recorded. Despite Norwegian oil worker strike ended after 17 days, supply disruptions in Argentina, Libya, and the Niger Delta are expected to offer continued support to the physical oil market.