The price of a tank of gas has been rising, and coming U.S. sanctions on Iran mean drivers could be in for even more pain at the pump. WSJ’s Sarah Kent explains why global oil prices are on a knife-edge. Photo: Getty ImagesOil prices rebounded from recent declines Monday as U.S. sanctions on Iran’s oil industry came into full effect, reigniting worries about potential supply shortages. Brent, the global oil benchmark, erased early losses and was trading up 1.2%, at $73.73 a barrel on London’s Intercontinental Exchange. West Texas Intermediate futures, the U.S. oil standard, rose 1%, to $63.75 a barrel on the New York Mercantile Exchange.

Source: Wall Street Journal November 05, 2018 11:40 UTC