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Oil edges up amid tightening supply, but economic slowdown weighs
Oil prices inched up on Wednesday amid supply cuts by producer group OPEC and U.S. sanctions on oil exporters Iran and Venezuela, but pressured by expectations that an economic slowdown could soon dent fuel consumption.
International benchmark Brent futures were at $70.76 per barrel at 0652 GMT, up 15 cents, or 0.2 percent, from their last close.
U.S. West Texas Intermediate (WTI) crude oil futures were at $64.20 per barrel, up 22 cents, or 0.3 percent, from their last settlement.
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