Concerns about oil supplies have eased as major producers have stepped up output, but the respite may be only temporary as tough new US sanctions on Iran approach, the IEA warned on Friday. Crude prices have dipped in recent weeks, reflecting less worry about supplies following increased output by Russia and several OPEC nations, the International Energy Agency said in its latest monthly report about the global oil market. However the Paris-based body warned supply tensions could quickly flare. “When we publish our next report …

London, UK | – Record global debt levels pose a clear risk to oil demand, the International Energy Agency said on Tuesday, citing figures from the International Monetary Fund last week that showed the world is awash with a record $152 trillion in debt. The IEA on Tuesday forecast global oil demand will grow at a rate of 1.2 million barrels per day in 2017, largely unchanged from 2016 and down from 2015’s five-year high of 1.79 million bpd. Years of low interest rates and …

London, UK | – Oil settled slightly lower in choppy trade on Tuesday as a surging dollar and anticipation of higher U.S. crude stockpiles offset optimism about planned OPEC output cuts that initially took Brent to four-month highs. A slump in equity prices on Wall Street also weighed on oil. Brent crude settled down 2 cents at $50.87 a barrel, after rising earlier to $51.37, its highest since June 10. U.S. West Texas Intermediate (WTI) crude closed down 12 cents at $48.69. At the session …