Oil slightly cheaper after the imposition of U.S. sanctions against Iran

Oil machine-rocking chair.

Нефть незначительно дешевеет после введения санкций США против Ирана
© AP Photo / Hasan Jamali

MOSCOW, 5 Nov — World oil prices Monday morning, down about 0.5% after it entered into force on sanctions against Iran, investors are expecting the final conditions regarding exemptions on the purchase of Iranian oil in other countries, according to the auction.

As of 9.11 MSK price of January futures for North sea petroleum mix of mark Brent has decreased on 0,45%, to 72.5 dollars per barrel, the price of December futures for WTI — by 0.57% to 62,78 dollars per barrel.

The fifth of November came into force the sanctions against Iran. Sanctions would cover oil exports. Washington has said it aims to bring Iranian oil exports down to zero and urged its customers to abandon such purchases. About more precise details on the terms will be known later on Monday.

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