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Oil sees weekly loss of over 6% as US waives Iran sanctions on 8 countries

Brent crude oil was down 10 cents a barrel at $72.79 by 1400 GMT

Reuters  |  London 

Oil prices slipped further on Friday, heading for a weekly loss of more than 6 per cent, after a report that Washington has granted several countries sanction waivers allowing them to continue to import Iranian crude. Brent crude oil was down 10 cents a barrel at $72.79 by 1400 GMT. The contract has fallen by almost 12 per cent since the beginning of October when it reached its highest since 2014. US light crude weakened by 30 cents to $63.39, down more than 13 per cent since hitting four-year highs a month ago. Investors are concerned about the prospects for oil supply when ...

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First Published: Fri, November 02 2018. 19:48 IST
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