From Dow Jones & Company: 2025-04-17 05:59:00

Oil prices are on the rise, with Brent crude surpassing $66 a barrel due to new U.S. sanctions targeting Iranian oil exports. The international benchmark is up 0.7% at $66.32, while the U.S. gauge WTI is 0.9% higher at $62.36. Some OPEC+ members are considering further output cuts to address overproduction. However, concerns about demand persist, with Federal Reserve Chair Jerome Powell warning of potential price hikes for consumers due to U.S. tariffs. Powell also mentioned that the central bank may have limited ability to quickly support the economy.



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