Oil Prices Ease After EU Softens Threat Of Iran Oil Embargo

Oil prices eased last week, with WTI crude retreating below $100/B for the first time since the start of the year, following news that a planned European Union embargo against Iranian crude oil would be phased in over a six-month period. But a weak dollar and strikes in Nigeria against the removal of subsidies on retail sales continues to support crude prices on global markets. Meanwhile, crude and product inventories in the US...