Oil dropped from a three-week high as Iran repeated its goal of boosting crude exports after sanctions on the nation are lifted.
Futures
slipped 3.4 percent in New York. Iran’s priority is to boost shipments
to pre-sanction levels, Oil Minister Bijan Namdar Zanganeh said,
according to the state-backed IRNA news agency. Commodities tumbled amid
fresh concerns about Chinese economic growth as the Shanghai Composite
Index fell the most in a month.
WTI
for February delivery slipped $1.29 to settle at $36.81 a barrel on the
New York Mercantile Exchange. Prices rose 1.6 percent to $38.10 on
Thursday, the highest since Dec. 4. Trading was closed Friday for the
Christmas holiday. The volume of all New York oil futures traded was 58
percent below the 100-day average at 2:50 p.m.
Brent
for February settlement fell $1.27, or 3.4 percent, to end the session
at $36.62 a barrel on the London-based ICE Futures Europe exchange.
Prices touched $35.98 on Dec. 22, the lowest since 2004. The European
benchmark crude closed at a 19-cent discount to WTI.
Source: Bloomberg
0 komentar :
Post a Comment