Oil prices stuck below $30 as investors brace for Iran oil

Crude oil prices continued to slide Monday with the Brent global benchmark and its U.S. counterpart West Texas Intermediate entrenched under $30 a barrel.

Brent LCOH6, +1.93%  fell 0.9% to $28.69 a barrel on London’s ICE Futures exchange for March loadings as the raising of Iranian oil sanctions weighing heavily on sentiment.

WTI CLG6, +0.37% is still trading on its February contract and is less affected by the return of Iranian crude oil. However, it was still down 1.2% to $27.07 a barrel on the New York Mercantile Exchange.

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