OIL PRICE: NEAR $79 AGAIN
REUTERS - Oil steadied on Wednesday, as concerns that producers may fail to cover a shortfall in supply once U.S. sanctions on Iran come into force outweighed an increase in U.S. inventories.
Brent crude futures LCOc1 were up 2 cents at $79.05 a barrel by 0854 GMT, having gained 1.3 percent on Tuesday following media reports that Saudi Arabia, the world's largest oil exporter, was comfortable with prices above $80.
U.S. crude futures CLc1 were up 15 cents at $70.00,…
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