Brent crude falls below $70 for first time since April Brent crude falls below $70 for first time since April

US crude down 21% from October peak, Brent down 18% on rising supply, softening demand

Oil in Bear Market Set for 5th Weekly Loss on Supply Glut Fears Oil Teeters Near Record Losing Streak After Entering Bear Market

Oil is poised for a fifth weekly loss after slipping into a bear market as record American production, expanding inventories and waivers granted to some countries for Iranian imports stoked concerns of a supply glut. Futures in New York were little changed, heading for a 4.

Iran is likely to ride out the storm from U.S. oil sanctions, suffering recession but no economic meltdown, thanks to rising crude prices and deepening divisions between the United States and other major powers, officials and analysts say.

US Oil Prices Slide Into Bear Market Amid Production Boom, Iran Sanction Waivers

Global oil prices slumped to an eight month low Friday, pulling both Brent and West Texas Crude futures into bear market territory, as investors re-calibrate assumptions for worldwide demand amid a surge in U.S. production and a softer stance on Iran sanctions from the White House.

PressTV-Reuters: Iran to withstand sanctions; US isolated

A European diplomat says the high oil prices and the US’ international isolation would lessen the impacts of new US sanctions on Iran.

Oil remains weak amid concern about rising supply

Brent slips as concern about an economic slowdown weighs on sentiment

Oil in bear market as supply rises, demand outlook weakens

SINGAPORE: Oil markets stabilized on Friday but remained weak as rising supply and concerns of an economic slowdown pressured prices, with US crude down by around 20 percent since early October. US West Texas Intermediate (WTI) crude oil futures were at $65.73 per barrel at 0629 GMT, 6 cents above their last settlement. WTI is set for a fifth weekly fall, down 4 percent so far

It has not been disclosed how much oil will be allowed to import, or under what conditions deals can be made.

Oil prices fell to multi-month lows on Friday as global supply increased and investors worried about the impact on fuel demand of lower economic growth and trade disputes.

What Israel thinks the U.S. is trying to achieve with renewed Iran sanctions

U.S. may be trying to force Tehran into reopening the nuclear deal, or affect regime change. Either way, the pressure is leading Iran to make grave mistake in Europe

Iran Sanctions Test U.S. Diplomatic Power

On Nov. 5, Trump’s Administration made its boldest move yet, restoring crippling penalties on Iran’s oil, banking and shipping sectors.