CRUDE OIL NEWS UPDATES BY COMMODITYPADIT.COM::

Oil drops as U.S. considers granting some waivers on Iran crude sanctions::

Brent crude oil prices fell more than 1 percent on Monday after Washington said it may grant waivers to sanctions against Iran’s oil exports next month, and as Saudi Arabia was said to be replacing any potential shortfall from Iran.

International benchmark Brent crude oil futures (LCOc1) were at $83.26 per barrel at 0352 GMT, down 90 cents, or 1.1 percent, from their last close.

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