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Oil prices pause gains as Venezuela shipments resume but Iran concerns loom
Oil prices paused their run of gains on Wednesday, slipping after four days of increases, as Venezuela resumed exports, but fears of Iranian supply disruptions following deadly civil unrest in the major Middle Eastern producer loom over the market.
Brent futures were trading 9 cents down, or 0.14 per cent lower, at $65.38 a barrel at 0207 GMT. US West Texas Intermediate crude was down 12 cents, or 0.20 per cent, at $61.03 a barrel.
Brent futures closed 2.5 per cent higher on Tuesday while WTI gained 2.8 per cent amid a 9.2 per cent surge in prices for both contracts over the past four trading sessions as the mounting protests in Iran have increased fears of supply disruptions from the fourth-largest OPEC producer.
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