Economic news

Oil slides from recent peaks, Iran’s exports in focus

Crude prices fell on Friday, sliding from multi-year peaks touched on Thursday on hopes that alternative supplies could substitute a looming slump in Iranian exports due to U.S. sanctions.

Brent crude futures slipped 0.2 percent to $77.34 a barrel. The international benchmark the previous session breached its top since November 2014 at $78 per barrel.

WTI crude futures lost 7 cents at $71.29 a barrel, still near previous session's November 2014 peak of $71.89 a barrel.

The U.S. considers to reimpose sanctions versus Iran, which generates near 4 percent of global crude supplies, after leaving an agreement reached in late 2015.

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