OIL PRICE: ABOVE $71 ANEW

Brent fell 35 cents, or 0.5%, to $71.54 a barrel. WTI reversed course to trade at $69.22, down 40 cents or 0.6%.

Crude has risen for the past two weeks, and Brent is up by over 37% this year, helped by supply curbs by the Organization of the Petroleum Exporting Countries and allies and demand recovering in part from the pandemic-induced collapse.

Iran and global powers will enter a fifth round of talks on June 10 in Vienna that could include Washington lifting economic sanctions on Iranian oil exports.

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