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Brent steady near $116 on cold snap, Iran sanctions
(Reuters) - Brent futures held steady near $116 on Tuesday, after settling at a six-month high in the previous session, due to a cold spell in Europe and supply concerns from the Middle East, while fears Europe's debt crisis was worsening weighed on the market.
Brent's premium to U.S. oil stayed around $19 a barrel, near its highest since November, due to the weather and as the United States further tightening sanctions against Iran, stoking already simmering tensions in the region. But Greece's wrangling over a bailout fund helped cap those gains.
Front-month Brent fell 16 cents to $115.77 a barrel by 0546 GMT, after gaining for five straight days. U.S. crude slipped 17 cents to $96.74.
"The geopolitical events surrounding Iran and the Middle East and the severe cold weather sweeping ...
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