Tuesday, 2 Jun 2020

Oil Prices Fall In Daily Trading

BAGHDAD, Brent crude prices fell more than 1 percent on Monday after Washington said it could grant exemptions from sanctions on Iran's oil exports next month. At the same time, it was said that Saudi Arabia compensate any potential oil shortages from Iran.

Brent crude was $ 83.25 a barrel, down 91 cents, or 1.1 percent, from its last closing price.

WTI futures fell 57 cents, or 0.8 percent, to $ 73.77 a barrel.

US sanctions target Iran's crude oil exports from November 4. Washington is exerting pressure on governments and companies around the world to stop its oil imports from Iran.

Source: National Iraqi News Agency

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