New York—ICE August Brent crude settledhigher June 26, supported by news that SouthKorea will halt Iranian oil imports and con-cerns over tightening supplies as an industrialstrike in Norway moved into its third day.August Brent settled $2.01 higher at$93.02/b after hitting $93.12/b during thesession.NYMEX August crude settled 15 centshigher at $79.36/b and July heating oil set-tled at $2.5765/gal, up 3.8 cents. July RBOBsettled down 7 points at $2.6451/gal.Summit Energy commodities analyst MattSmith said news that South Korea will banimports of Iranian crude when European Unionsanctions take effect on July 1 lent support toBrent futures.
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