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Oil falls on prospect of Iran oil sanctions easing

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Reuters UK

By Sonali Paul MELBOURNE (Reuters) – Oil prices retreated on Friday after wild swings during the week, as the prospect of extra supply from Iran returning to the market outweighed fears of a possible Russian invasion of Ukraine, which could disrupt supply. Brent crude futures fell 68 cents, or 0.7%, to $92.29 a barrel at 0124 GMT, extending a 1.9% drop from the previous session. U.S. West Texas Intermediate (WTI) crude futures shed 67 cents, or 0.7%, to $91.09 a barrel, after sliding 2% in the previous session. Both benchmark contracts were headed for their first weekly fall in nine weeks afte…

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