Crude-oil prices settled slightly higher Tuesday, with reinstated U.S. sanctions against Iran seen as a threat to global supplies, especially after Saudi Arabia's production had also recently contracted. West Texas Intermediate oil for September delivery CLU8, +0.06% settled up 16 cents, or 0.2%, at $69.17 a barrel. The gain marked the second consecutive rise for crude as the Trump administration reimposed fresh sanctions against Iran, following the U.S.'s withdrawal in May from a 2015 international nuclear pact. Worries about supply disruptions stoked by those sanctions--with more to come in the next three months--along with a decrease in output from Saudi Arabia, has helped to boost crude prices over the past two sessions. Looking ahead, investors await U.S. inventory data from American Petroleum Institute at 4:30 p.m. Eastern Time, ahead of a more official supply update from the Energy Information Administration at 10:30 a.m. on Wednesday.
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