Ammon News - Oil prices eased in Asia on Wednesday but held near one-month highs on the back of new U.S. sanctions on a network of shipping companies and vessels, while traders looked ahead to an OPEC+ meeting over the weekend.

Brent crude fell 19 cents, or 0.3%, to $68.95 a barrel by 0433 GMT. U.S. West Texas Intermediate crude dipped 16 cents, or 0.2%, at $65.43 a barrel.

The benchmarks settled up more than 1% in the previous session after the U.S. imposed new sanctions on a network of shipping companies and vessels led by an Iraqi-Kittitian businessman for smuggling Iranian oil disguised as Iraqi oil.

Three analysts polled by Reuters ahead of weekly inventory data estimated on average that crude inventories fell by about 3.4 million barrels in the week to August 29.

Reuters