FOX LIVE NEWS UPDATE
UPDATE 2-Oil slips on rising U.S. rig count; Iran concerns limit downside
April 30 (Reuters) – Oil prices dipped on Monday after a rising rig count in the United States pointed to higher production there, but markets held near their highest in over three years and remained set for a second straight month of gains.
Oil prices were supported by supply concerns amid prospects that the United States could reimpose sanctions on Iran, while OPEC-led producers continue to withhold output.
Brent crude futures LCOc1 , the international benchmark, had dipped 50 cents, or 0.7 percent, to $74.14 a barrel by 0633 GMT. Prices climbed as high as $75.47 last week, levels not seen since November, 2014.