Oil rises on US crude inventories, Iran sanctions worries
Updated : August 22, 2018 06:59 AM IST
Brent crude oil futures were at $72.80 per barrel at 0109 GMT, up 18 cents, or 0.25 percent, from their last close.
US crude inventories fell by 5.2 million barrels in the week to Aug.17, to 405.6 million barrels, ahead of analysts' forecasts for a fall of 1.5 million barrels, according to data from industry group the American Petroleum Institute.
Concerns also remain over how much oil will be removed from global markets by renewed sanctions on Iran, despite worries that demand growth could weaken amid a trade disputes between the United States and China, the world's two biggest economies.