By Oke Peter
Oil price, yesterday, dropped to around $83 a barrel on pressured by expectations that some Iranian oil exports will keep flowing after the U.S. reimposes sanctions, easing a strain on supplies.
Brent crude, the international benchmark was down $1.07 to $83.09 per barrel at 0817 GMT. It hit a four-year high of $86.74 last week.
Similarly, U.S. crude CLc1 was down 93 cents at $73.41.
Two companies in India, a big buyer of Iranian oil, have ordered barrels in November, India’s oil minister said on yesterday.
However, Trump administration is considering waivers on the proposed sanction on Iran, a U.S. government official has said.
According to U.S officials, pressure has mounted on United States government to consider waiver for on Iran ahead of plans to sanction Iran on November 4, this year.
