Brent crude futures saw gains on Tuesday following a report by the US Labor Department that highlighted a jump in US job openings in February.
Brent crude was up 61 cents at $58.73, while US crude increased 94 cents at $53.08 a barrel, Reuters reported.
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The labour report showed that job openings increased 3.4% to 5.1 million in February, representing a 14-year high, thereby indicating the companies’ willingness to increase their staff.
A partial closure of the Mississippi River following an oil leak also led to gains in Brent futures.
Brent crude oil prices on Tuesday dropped 50 cents to $57.62 following news that Iranian officials have put in place specific requirements to conclude a nuclear deal with six world powers.
The news agency reported that China has purchased around half of Iran’s crude exports since 2012.
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By GlobalDataFor possible oil ties, National Iranian Oil is expected to approach crude buyers in China, including Unipec and Zhuhai Zhenrong.
The first half of 2015 witnessed the pumping of over 1.5 million barrels per day (bpd), in addition to the existing oversupply situation in the global oil markets, according to analysts.
