| Oil prices have finished nearly flat, rebounding from earlier declines after news that the US had stepped up sanctions on Iran. The cost of a barrel of West Texas Intermediate oil for March delivery on Wednesday ended two US cents lower at $US96.62 on the New York Mercantile Exchange.
In London, the price of a barrel of European benchmark Brent closed at $US116.73, up 21 US cents from Tuesday. US oil prices were down about $US1.60 a barrel early in the session, but largely recovered those losses after the US Treasury Department announced new sanctions targeting Iranian oil revenue...............................................Full Article: Source
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