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SINGAPORE — Oil prices fell yesterday as record US output and rising crude stockpiles dampened the impact on markets of tighter US sanctions on Iran and producer club OPEC’s continued curbs on supply.
Brent crude futures were at $74,35 per barrel at 0037 GMT, down 22 cents, or 0,3 percent, from their last close.
US West Texas Intermediate (WTI) crude futures were at $65,60 per barrel, down 29 cents, or 0,4 percent, from their previous settlement.
Crude futures rose to 2019 highs earlier in the week after the United States said on Monday it would end all exemptions for sanctions against Iran, demanding countries halt oil imports from Tehran from May or face punitive action from Washington.
ALL SHARE
The All Share index closed the week in the positive after adding 2.11 points 1,64 percent to close at 130.73 points. British American Tobacco went up by $0,6591 to settle at $30,0000, Delta added another $0,1198 to close at $2,6275 and Old Mutual Limited was $0,0479 stronger at $9,1083. African Sun also increased by $0,0370 to end at $0,2290 and CBZ traded $0,0300 stronger at $0,2100.
Trading in the negative was Cassava Smartech and First Mutual Limited which lost $0,0055 and $0,0015 to close at $1,0696 and $0,1360 respectively.
Online Reporter