Oil prices down on Iran sanction exemptions, demand concerns | Reuters

Oil prices down on Iran sanction exemptions, demand concerns | Reuters:

Oil prices declined on Tuesday after Washington granted sanctions exemptions to top buyers of Iranian oil, lifting supply concerns and turning the market’s focus to worries that an economic slowdown may curb fuel demand. 

Benchmark Brent crude futures LCOc1 were down 20 cents at $72.97 a barrel by 0929 GMT.

U.S. West Texas Intermediate crude futures CLc1 were at $62.98 a barrel, down 12 cents from their last settlement.