November crude oil prices grinded higher during the initial morning hours, supported by a rally in global equity markets, a favorable read on German economic sentiment and a breakdown to a new six day low in the US dollar index. The crude oil market also gains a measure of support after European governments agreed to tighter sanctions against Iran, with the hope of curtailing Iran's nuclear program. Yesterday's decision gained praise from Israel's Prime Minister Netahyahu earlier this morning. Meanwhile, Brent crude oil prices were mixed, with weakness seen in the November contract ahead of expiration later in the session.
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