Oil increases its losses to more than 1.5% after a break between Qatar and Arab countries

Views Date 05/06/2017 - 20:32

Economy News _ Baghdad:

Oil prices fell more than 1.5 percent in trading on Monday on fears that cuts by Saudi Arabia, the world's top exporter and other Arab countries, of ties with Qatar could derail a global deal to cut oil production.

Brent crude fell 1.64 percent to $ 49.13 a barrel by 1510 GMT, while US crude fell 1.66 percent to $ 46.86.

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