Remarks by Iran’s oil minister sparked a rally for crude on Wednesday. March West Texas Intermediate crude tacked on $1.62 to end trade at $30.66 a barrel on the New York Mercantile Exchange. April Brent crude added $2.32 to settle at $34.50 a barrel on the London ICE Futures Exchange.
Iran’s oil minister indicated his country was in favor of OPEC and non-OPEC producers keeping production at January levels. Iran has been meeting with Iraq and Venezuela.
March natural gas added 3.9 percent to end trade at $1.942 per million British thermal units on the New York Mercantile Exchange.
