Crude oil prices dropped on Thursday amid reports that Western sanctions against Iranian oil exports may be eased.
As of 1350 hours GMT, Brent, the international benchmark for two-thirds of the world’s oil, shed $1.33 (-1.18 percent) to reach $111.60 a barrel. The benchmark has gained $13.69 a barrel during the last four days. The West Texas Intermediate (WTI), the main oil benchmark for North America, reached $108.82 a barrel, down by $1.78 (-1.61 percent). The contract has gained around $17.23 a barrel during the last four days. The price for Opec Basket was recorded at $103.89 a barrel with an increase of 4.71 percent, Arab Light was available at $111.88 a barrel with an increase of 5.68 percent .—TLTP
