Fox Business | Oil Edges Up on Threat of New Iran Sanctions Fox Business Comments by Russian energy minister Alexander Novak that oil producers had cut their output in accordance with a pact agreed in December also helped support prices, analysts said. Reuters reported on Thursday that Trump's administration is prepared to ... US crude settles at $53.54, down 34 cents as rising US crude supplies offset OPEC output cuts Oil up on hopes over production cuts, but investors wary over US politics Oil Prices Fall |