Brent oil stabilizes near $72 as economic concerns weigh | Reuters

Brent oil stabilizes near $72 as economic concerns weigh | Reuters:

Brent oil stabilized near $72 per barrel on Monday after several weeks of decline, weighed down by concerns over slowing global economic growth but supported by an expected fall in supply from Iran due to U.S. sanctions.

Brent crude futures, a benchmark for international oil prices, were at $72.11 per barrel at 0803 GMT, up 28 cents.

U.S. West Texas Intermediate (WTI) crude futures were up 3 cents at $65.94 per barrel.