- Oil trades lower this morning but is heading for a second weekly gain
- WTI prices are up more than $2 this week and more than $6 from the lowest prices seen last week
- The Federal Reserve interest rate cut earlier this week has helped boost prices, with equities and other rate-sensitive asset classes also rising
- US lawmakers eye tougher Iran sanctions (Argus)
- Republican lawmakers urge President Biden to enforce tougher sanctions on Iran to curb crude sales to China while US officials debate the effectiveness and consequences of existing sanctions
- Former Trump officials told a House panel that existing sanctions against Iran ought to be enforced more rigorously
- Iranian crude exports staged a steady recovery, now holding well above 1.5 MMBbl/d, mainly to China at a discount
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