Oil futures rose on Monday after OPEC sources said Saudi crude production unexpectedly fell in July, raising concerns about global oil supplies as the United States prepares to reinstate sanctions against major exporter Iran. Brent crude futures rose 94 cents to $74.15 a barrel, a 1.3 percent gain, by 11:25 a.m. EDT. U.S. West Texas Intermediate (WTI) crude futures rose $1.23 to $69.72 a barrel, a 1.8 percent gain. Saudi Arabia pumped around 10.29 million barrels per day (bpd) of crude in July, two OPEC sources said on Friday, down about 200,000 bpd from a month earlier. That came despite a pledge by the Saudis and top producer Russia in June to raise output from July, with Saudi Arabia promising a “measurable” supply boost. “The Saudis […]