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Oil falls after Trump presses OPEC to make up for Iranian sanctions

The Address | Benghazi – Libya

LONDON – Oil prices fell on Monday, extending a slump from Friday that ended weeks of rallying, after President Donald Trump demanded that producer club OPEC raise output to soften the impact of U.S. sanctions against Iran.

Brent crude futures were at $71.59 per barrel at 0840 GMT, down 56 cents, or 0.78 percent, from their last close.

U.S. West Texas Intermediate (WTI) crude futures were at $62.93 per barrel, down 37 cents, or 0.58 percent, from their previous settlement.

Both benchmarks fell around 3 percent in the previous session.

Trump said on Friday he told the Organization of the Petroleum Exporting Countries (OPEC) to lower oil prices.

Reuters

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