Oil Prices Steady On Falling U.S. Crude Stocks, Iran Sanctions

Oil prices held steady on Wednesday, supported by a report of rising U.S. crude inventories as well as the introduction of sanctions against Iran. Crude oil prices rose as the reality of U.S. sanctions on Iran weighed on sentiment. News from key buyers suggests the market is already adjusting to the new regime," ANZ bank said in a note on Wednesday.
The U.S. government introduced a raft of new sanctions against Iran on Tuesday, targeting Iran's purchases of U.S. dollars - in which oil is traded - metals trading, coal, industrial software and its auto sector. November, Washington will also target Iran's petroleum sector. For More Information Please Visit : www.dollaradvisory.com and Call : 9111179961