U.S. crude closes below $30, as Iran sets to ramp up export level
- U.S. crude fell sharply on Tuesday closing below $30 a barrel for the first time in more than a week, amid reports that Iran could pencil in a line item on its annual budget, which would enable the Persian Gulf state to ramp up its oil exports above the 2 million barrel threshold in fiscal year 2016. On the New York Mercantile Exchange, WTI crude for March delivery traded in a broad range between $29.82 and $31.52 a barrel, before settling at $29.97, down 1.68 or 2.30% on the day. With the second consecutive major decline, U.S. crude ...
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