Talks over a possible relaxation of sanctions against Iran that may increase global oil supplies kept crude-oil futures near a week’s low Monday, while a supply disruption due to Saudi airstrikes on Yemen looked increasingly unlikely.
light, sweet crude futures for delivery in May CLK5, -1.45% traded at $48.09 a barrel, down 86 cents, or 1.8%, in the Globex electronic session. May Brent crude LCOK5, -0.69% on London’s ICE Futures exchange was down 56 cents, or 1%, to $55.86 a barrel.
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