Oil slips towards $84, heads for weekly drop as supply concerns ease | Reuters
Oil slipped towards $84 a barrel on Friday, heading for its first weekly loss in about two months after a rise in U.S. crude inventories and the prospect of more Iranian supply eased concern of a tight market.
U.S. crude stocks rose by 4.3 million barrels in this week's report. Iran has said talks on reviving the international deal on its nuclear programme will restart by the end of November, bringing it a step closer to boosting oil exports.
"The sharp rise in U.S. crude oil stocks and the expectation of nuclear talks being resumed with Iran have temporarily eased concerns about supply to some extent," said Commerzbank's Carsten Fritsch.
Brent crude fell 2 cents to $84.30 a barrel by 1345 GMT and U.S. West Texas Intermediate crude slipped 43 cents, or 0.5%, to $82.38. Both benchmarks touched multi-year highs on Monday.
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