By Srinivas Chowdary Sunkara // petrobazaar // 30th Oct, 2018.
Brent lost 28 cents to $77.34 and WTI futures slipped by 55 cents to $67.04 a barrel on Monday amid the talk of supply increases. It seems that last week's financial woes continued to weigh on oil prices yesterday along with the strong U.S dollar.
Oil markets are days far from sanctions era. China advised state owned oil firms to hold the Iran crude imports for the time being and India lowered the indent, waiting for waivers. Iran lost around 600000 barrels of market from China and started selling to private oil companies for the first time. Fund managers have cut down the longs due to uncertain demand outlook. Asian markets are stable today at the time of writing, Good day.
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