Oil falls again as US waives Iran sanctions for some countries
Several buyers are reported to receive waivers, as Trump steps back slightly, as Russia and the US vie for top producer spot, both with outputs of more than 11-million bpd
London — Oil prices slipped further on Friday, heading for a weekly loss of more than 6%, after a report that Washington has granted several countries waivers on sanctions on Tehran, allowing them to continue to import Iranian crude. Benchmark crude oil was down 20c a barrel at $72.69 by 9am GMT. The contract has fallen 12% since the beginning of October. US light crude was 25C lower at $63.44, down more than 13% since hitting four-year highs a month ago. Global markets, including oil, were lifted earlier on Friday by hopes that the trade dispute between the world’s two biggest economies could be resolved soon. But sentiment turned negative after a report that several governments received waivers that would allow them to import some Iranian crude once US sanctions are imposed next week. The US government has agreed to let eight countries, including close allies South Korea and Japan, as well as India, keep buying Iranian oil after it re-imposes the sanctions, Bloomberg reported on F...
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