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International benchmarks for oil prices increased on Tuesday (23 August) on report that Iran might join effort with other major producer to stabilise the oil market. According to WSJ, Iran sent a letter to members of the OPEC commitee saying it would attend the group’s informal talks in September, though no confirmation from the Iranian oil ministry. Analysts are still unconvinced that any deal could be reached this September. Watchers are awaiting US commercial crude inventories report on Wednesday.

WTI closed at $48.10/barrel (+$0.69) September delivery

Brent closed at $49.96/barrel (+$0.80) October delivery