Oil falls as US grants Iran sanction waivers to eight importers
Updated : November 05, 2018 06:23:17 IST
Front-month Brent crude futures, the international benchmark for oil prices, were at $72.53 per barrel at 0030 GMT on Monday, down 30 cents, or 0.4 percent from their last close.
Brent has lost more than 16 percent in value since early October, while WTI has declined by more than 18 percent since then.
Traders said prices have been coming under pressure since it became clear that Washington was allowing several countries to continue importing crude from Iran despite the sanctions, which officially started on Monday.