Oil markets held steady above $110 a barrel on hopes of demand growth as positive data from the US raised expectations of economic expansion gaining strength in the world’s top oil-consuming nation.
Brent crude decreased ¢23 to $110.75 a barrel and is set to post a weekly gain of 1%, while US crude fell ten cents to $99.60.Furthermore, supply threats increased after Iran said it may stop exports to the EU.
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Investors were also worried about Greece’s debt crisis and how it may affect the global economy if policymakers aren’t able to resolve it soon, reports Reuters.
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