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Oil prices rise as tensions continue between Iran, West
Last Updated: 2019-08-21 04:47 | Xinhua
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Oil prices continued to rise on Tuesday, as investors remained concerned over weakening global demand, due to the ongoing geopolitical tensions between Iran and the West.

The West Texas Intermediate for September delivery slightly increased 0.13 U.S. dollar to settle at 56.34 dollars a barrel on the New York Mercantile Exchange, while Brent crude for October delivery rose 0.29 dollar to close at 60.03 dollars a barrel on the London ICE Futures Exchange.

An Iranian court started hearing the case of British oil tanker Stena Impero which was captured by Iranian forces last month for "violating the international maritime regulations" at the Strait of Hormuz, Tasnim news agency reported Tuesday.

The Iranian oil tanker seized by Britain for weeks had left Gibraltar for international waters, Iran's Ambassador to Britain Hamid Baeidinejad confirmed Monday.

Gibraltar on Thursday released the tanker and later turned down the U.S. request to retain it. Enditem

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