Oil Prices Rebound After Heavy Declines Over Trade Dispute

Oil prices on Thursday eked out gains on concerns about Iranian crude supplies as the U.S. hit Tehran with renewed sanctions, halting the previous session's declines amid the escalating China-U.S. trade dispute and worries over China's demand.

Brent crude futures were up 30 cents, or 0.4 percent, at $72.58 barrel by 0417 GMT, following a decline of more than 3 percent on Wednesday.

U.S. West Texas Intermediate (WTI) crude futures had gained 11 cents, or 0.2 percent, to $67.05 a barrel, after dropping 3.22 percent the previous session.

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