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Oil prices drop over 1 percent on worries about Iran sanction waivers

Reuters  |  NEW YORK 

By Stephanie KellyNEW YORK (Reuters) - Oil prices fell on Tuesday, with U.S. crude futures sliding to a seven-month low a day after Washington granted sanction waivers to top buyers of Iranian oil, as Iran said it had so far been able to sell as much oil as it needs to sell.Brent crude futures dropped 96 cents, or 1.3 percent, to $72.21 a barrel, by 11:03 a.m. EST (1603 GMT). The global benchmark hit a session low of $71.85 a barrel, lowest since Aug. 20.U.S. West Texas Intermediate (WTI) crude futures fell 82 cents, or 1.3 percent, to $62.28 a barrel. The session low was $61.96 a barrel, its ...

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First Published: Tue, November 06 2018. 22:16 IST