Oil drilling rigs
Oil prices closed mixed after a volatile trading today, Feb. 4, as investors weighed speculation that US President Donald Trump will impose tougher sanctions on Iran, threatening global supplies.
Brent crude futures for April delivery rose 0.3%, or 24 cents, to close at $76.20 a barrel, after falling to $74.15 earlier. US West Texas Intermediate crude futures for March delivery fell 0.65%, or 46 cents, to $72.70 a barrel, paring losses after falling to $70.67.
Prices fell early after China's finance ministry said his country would impose tariffs on a range of US goods, including crude oil and liquefied natural gas, in retaliation for Washington's unilateral tariffs.
The American Petroleum Institute's report on oil inventories is expected to be released on Feb. 5, before the official data from the US Energy Information Administration is announced, amid expectations of a rise in crude inventories by 2.4 million barrels.
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