Oil prices weakened on Monday after new tariffs imposed by the United States and China came into force, raising concerns about a further hit to global growth and demand for crude.
Brent crude slipped 22 cents, or 0.4%, to $59.03 a barrel, while U.S. oil was down 2 cents at $55.083 at barrel,...
While US sanctions on Iran’s oil industry have slashed the OPEC member’s crude exports, its oil product sales remain strong at nearly $500 million a month, shipping data and Reuters calculations show.
Sanctions have barely affected Iran’s exports of oil products, primarily fuel oil used for...