Oil heads up to $74 a barrel, but U.S. bonds, crude supply cast a pall

Oil edged higher on Wednesday, nearing three-year highs reached the previous day, as rising U.S. fuel inventories and production weighed on an otherwise bullish market.

Weekly data on Tuesday that showed a rise in U.S. crude inventories also subdued the oil price somewhat.

The prospect of fresh sanctions on Tehran and disruption to the country’s oil flows has helped push the oil price to its highest since late 2014 this month.
more at: https://www.reuters.com/article/us-global-oil/oil-heads-up-to-74-a-barrel-but-u-s-bonds-crude-supply-cast-a-pall-idUSKBN1HW01Z