Futures Movers: U.S. oil prices pull back from multiweek highs though Iran tensions persist

U.S. oil prices, trading at multiweek highs in recent sessions, slipped slightly on Tuesday, although heightened tensions between the U.S. and Iran remained front of mind for the energy market.

August West Texas Intermediate crude CLQ19, +0.22% fell 17 cents, or 0.3%, to $57.73 a barrel on the New York Mercantile Exchange. The contract wrapped up trading Monday at $57.90, the highest front-month contract finish since May 29, according to Dow Jones Market Data. Prices rose 8.8% for last week, the biggest weekly percentage climb since the week ended Dec. 2, 2016.

Read:Here’s what’s at stake for oil as the Iran-U.S.

>>> Original Source <<<