MTECHTIPS;-Oil prices rise on Iran sanctions worries, falling Venezuelan\

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MTECHTIPS;-Oil prices rise on Iran sanctions worries, falling Venezuelan output

MTECHTIPS- Oil prices rose on Thursday, supported by an expectation that the United States will re-impose sanctions against Iran, a decline in output in Venezuela and ongoing strong demand. Brent crude oil futures (LCOc 1) were at 74.42 per barrel at 0135 GMT, up 42 cents, or 0.6 percent, from their last close. U.S. West Texas Intermediate (WTI) crude futures were up 33 cents, or 0.5 percent, at $68.38 per barrel. Traders said markets rose on expectations that the United States will in May re-impose sanctions against Iran, a major oil producer and member of the Organization of the Petroleum Exporting Countries (OPEC). French President Emmanuel Macron said on Wednesday during a state visit to the United States that he expected Trump to pull out of a deal with Iran reached in 2015, in which Iran suspended its nuclear program in return for western powers lifting crippling sanctions

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