Oil falls ahead of US announcement on new Iran sanctions

SINGAPORE: 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. Brent crude futures fell $1.22, or 1.29 percent, to $93.17 by 0035 GMT, while US West Texas Intermediate crude was at $85.86 a barrel, down $1.20, or 1.38 percent.

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