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Oil slips as trade war worries outweigh Iran sanctions

Reuters  |  NEW YORK 

By Ayenat MersieNEW YORK (Reuters) - Oil prices slipped on Friday, pressured by renewed concerns that a global trade war could dent energy demand, although impending U.S. sanctions on Iran and falling Venezuelan output limited the decline.Benchmark Brent crude oil fell 42 cents to $77.35 a barrel by 1:35 p.m. EDT (1735 GMT). U.S. crude slipped 36 cents to $69.89. For the month, global benchmark Brent was set to jump 4.3 percent and U.S. crude 1.6 percent. Oil has been buoyed by tumbling Venezuelan output and declining shipments from Iran ahead of the imposition of U.S. sanctions on Tehran in ...

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First Published: Fri, August 31 2018. 23:48 IST
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