Oil prices rise as focus switches to Iran

HEALTHIER US inventories did little to offset rising oil prices this week, which came amid news that the US Navy is holding unannounced exercises off Iran’s coast in the Persian Gulf.

Oil prices rise as focus switches to Iran Oil prices rise as focus switches to Iran Oil prices rise as focus switches to Iran Oil prices rise as focus switches to Iran Oil prices rise as focus switches to Iran

Gains were seen across both New York’s West Texas Intermediate and Singapore’s Tapis crude oil prices.

But by the close of business yesterday, a barrel of WTI crude was selling for $US63.

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