Oil prices gain as Iranian crude exports fall, Hurricane Michael nears

Oil prices rose about one percent on Tuesday on growing evidence of falling Iranian crude exports before the imposition of new U.S. sanctions, as well as a partial production shutdown in the Gulf of Mexico because of Hurricane Michael.

Brent crude futures rose $1.09 to settle at $85.00 a barrel, a 1.30 percent gain. The global benchmark hit a four-year high of $86.74 last week but slipped as low as $82.66 on Monday.

U.S. West Texas Intermediate (WTI) crude futures rose 67 cents to settle at $74.96 a barrel, a 0.90 percent gain…

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