The Iran Project

Oil edges up as market shrugs off U.S.-Iran tensions

Iran’s Central Oil Fields Company (ICOFC) has decided to raise its oil and gas production in the next Iranian calendar year, as of March 21, by 95 bcm and 75 million barrels respectively.

The Wall Street Journal | Christopher Alessi: Oil prices ticked up only slightly Tuesday morning, despite escalating tensions between the U.S. and Iran that could further disrupt oil exports from the Islamic Republic.

Brent crude, the global benchmark, was up 0.18% to $73.19 a barrel on London’s Intercontinental Exchange. On the New York Mercantile Exchange, West Texas Intermediate futures were trading up 0.46% at $68.19 a barrel.

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