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Oil prices down on possible U.S. exemptions to Iran oil consumers

Prices on Brent lost over 1% today following words from the U.S. administration thatthere could be waivers to sanctions on Iranian oilin November, while Saudi Arabia was claimed to be ready to make up for any shortage.

Brent futures slumped to $83.26 for a barrel, 90 cents lower compared to the previous settlement.

U.S. WTI futures fell to $73.80 per barrel,minus 54 cents.

The United States might give exemptions to oil buyers that have taken steps to cut imports from Iran, according to Friday’s statement by an official.

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