LONDON (Bloomberg) -- Oil’s recovery, buoyed by potential supply risks, was capped by rising U.S. inventories while President Donald Trump neared a decision on whether to reimpose sanctions on Iran.
Futures in New York fell 0.7% after rising 1% Wednesday, the biggest gain in two weeks. U.S. data showed that stockpiles last week climbed the most since January, beating estimates. Trump’s deadline to decide on Iran is just over a week away, and traders are keeping a close watch as sanctions could hit the OPEC nation’s crude exports.
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