Crude oil futures settle higher amid lingering US-Iran concerns
Diplomatic efforts between the two countries aimed at easing tensions over Tehran's nuclear program concluded on February 26 without an agreement
Crude oil futures settled higher on Friday amid lingering concerns about a military conflict between the U.S. and Iran. Diplomatic efforts between the two countries aimed at easing tensions over Tehran's nuclear program concluded on February 26 without an agreement. Meanwhile, a private report said Venezuela's oil ministry has suspended 19 oil production-sharing contracts with private companies signed under the administration of President Nicolas Maduro.
Benchmark crude oil futures for April delivery rose $1.81 or 2.78% to settle at $67.02 a barrel on the New York Mercantile Exchange. Brent crude for May delivery added $1.64 or 2.32% to settle at $72.48 a barrel on London's Intercontinental Exchange.
