06-02-2017 13:48 via uk.news.yahoo.com

Oil steadies as Iran and OPEC offset by U.S. drilling rebound

By Alex Lawler LONDON (Reuters) - Oil steadied near $57 barrel on Monday as OPEC supply cuts and rising tensions between the United States and Iran were countered by ample inventories and signs that higher prices will revive U.S. output. The Trump administration's new sanctions against Iran, though not affecting oil output, raised concern about the potential for further developments that could hinder export growth in OPEC's third-largest producer. U.S. energy companies added oil rigs for a 13th
Read more »