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Oil falls after U.S. softens stance on Iranian sanction waivers

Reuters  |  TOKYO 

TOKYO (Reuters) - Oil prices fell on Wednesday, with Brent dropping by more than $1, after the United States said it would consider requests for waivers from sanctions due to snap back into place on Iranian crude exports.Brent crude futures were down $1.10, or 1.4 percent, at $77.76 a barrel by 0112 GMT. U.S. crude was down 68 cents, or 0.9 percent, at $73.43.Both contracts had posted gains earlier in the previous session after industry data showed inventories fell more than expected last week in the United States. Washington will consider requests from some countries to be exempted from ...

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First Published: Wed, July 11 2018. 06:53 IST