Crude oil trading range for the day is 4682-4880.
Crude oil dipped away from multi-year highs reached the previous session on hopes that alternative supplies could replace a looming drop in Iranian exports
The United States plans to impose new sanctions against Iran, which produces around 4 percent of global oil supplies.
The threat of new sanctions come amid an oil market that has already been tightening due to strong demand, especially in Asia.
Crude oil dipped away from multi-year highs reached the previous session on hopes that alternative supplies could replace a looming drop in Iranian exports
The United States plans to impose new sanctions against Iran, which produces around 4 percent of global oil supplies.
The threat of new sanctions come amid an oil market that has already been tightening due to strong demand, especially in Asia.
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