Mubasher TV
Contact Us Advertising   العربية

Oil down for 4th week in row

Oil down for 4th week in row

Mubasher: Oil prices decreased on Friday, after the United States announced that it will issue waivers on Iranian oil sanctions for eight countries.

Countries such as Japan, South Korea, and India will thus be allowed by Washington to continue to purchase crude oil from Tehran without being subject to American sanctions.

The sanctions imposed by the Trump administration on Iran is set to come into effect on Monday 4 November.

Nymex futures for December delivery fell by 0.9% to settle at $63.14 per barrel, recording weekly losses of 6.6%.

Brent crude futures for January slipped 0.1% and settled at $72.83 a barrel, down 6.2% for the week.