Ghana news briefing
Oil falls ahead of US announcement on new Iran sanctions
and Iran hit a stalemate, capping oil shipments through the Strait of Hormuz, where a fifth of the world's supply used to transit.
Oil prices slipped more than $1 a barrel on Monday as investors took profits ahead of an expected announcement from Washington about imposing more sanctions on Iran that may further disrupt supplies from the Middle East.
However, Iran has granted permission for a number of Iraqi oil tankers to pass through the Strait following repeated requests from Baghdad, Iran’s state news agency IRNA reported on Saturday.
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