0942 ET - Oil futures are giving back some gains made on the U.S. sanctioning of a Chinese refinery that buys Iranian oil, and OPEC+ details of members' updated plans to compensate for producing above agreed levels. Fresh U.S. actions against Iran have raised expectations of tighter global supply, and the OPEC+ compensation could lend additional support, although traders remain hesitant "as they assess the real impact of these developments," Joseph Darieh of Tickmill says in a note. WTI is off 0.4% at $67.80 a barrel as the front month switches to May. Brent is down 0.5% at $71.64 a barrel. (anthony.harrup@wsj.com)
(END) Dow Jones Newswires
March 21, 2025 09:42 ET (13:42 GMT)
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