Tokyo/London — Oil prices fell on Friday and were set for a second straight week of decline after Libyan ports reopened and on the view that Iran might still export some crude despite US sanctions.Brent crude was down 36 US cents, or 0.5%, at $74.09 per barrel by 11.25am GMT, having fallen 1.3% earlier. It was heading for a weekly fall of about 4%. US benchmark West Texas Intermediate crude lost 12c to $70.22, and was also set for a weekly fall of about 4%.Oil approached $80 in late June and early July due to Libyan and Venezuelan supply disruptions and fears the US would press all buyers of Iranian oil to cut imports to zero from November.But prices weakened in recent days as oil cartel Opec member Libya reopened its ports in the east and US secretary of state Mike Pompeo said Washington would consider granting waivers to some of Iran’s crude buyers.Prices also slid amid broader market fears that a US-China trade dispute could hit global economic growth."While the oil market could ...
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