Oil Prices Buoyed By Iran Tensions, But Demand Seen Slipping

Oil prices were supported by concerns surrounding plans for tougher sanctions against Iran, with WTI receiving additional support from US government rejection of a proposal to expand pipeline capacity at Cushing, Oklahoma, the delivery point for the US benchmark crude. Increasingly, US demand growth is expected to decline despite some improvement in economic data. Eurozone worries continue to impact the market as do geopolitical...