Oil prices slipped below $111 (Dh407) a barrel on Friday but retained the bulk of the previous session’s gains, supported by stronger economic growth in China and ongoing supply concerns after UN talks with Iran failed and Algeria’s hostage crisis continued.
Brent crude briefly edged higher after the UN said that nuclear inspectors had failed to reach a deal with Iran to unblock an investigation into suspected bomb research on Friday after two days of intensive discussions.
The absence of a breakthrough was a new setback for diplomatic efforts to allay international concerns over Tehran’s atomic ambitions and avert the threat of a new Middle East war.
Oil prices slip below $111 a barrel but retain bulk of previous session’s gains | GulfNews.com
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