Oil settles higher; fears of Iran sanctions end early slide
Updated : April 24, 2018 09:09 AM IST
Oil prices rebounded from an early slide to finish higher and strengthen further in post-settlement trade, as investors feared US sanctions could dampen Iran's output.
Oil prices tumbled early on fears that oversupply could return. Iran's oil minister Bijan Zanganeh said there would be no need to extend a pact between the Organization of the Petroleum Exporting Countries and non-OPEC producers if oil prices strengthened.
The United States has until May 12 to decide whether it will leave a nuclear deal with Iran and impose new sanctions against Tehran.