U.S. West Texas Intermediate (WTI) crude futures settled down 2 cents at $67.75 per barrel. Brent crude futures <LCOc1> settled up 33 cents at $76.83 a barrel. For the week, U.S. crude lost almost 3 percent, while Brent was down 0.8 percent.. (Filepic shows oil refinery in Yokohama, Japan. - Reuters)
DUBAI: South Korea has bought no Iranian crude oil for about three months after the reimposition of U.S. sanctions on Tehran, a spokesman for the Iranian oil ministry was quoted as saying on Sunday by the ministry news website SHANA.
"For about three consecutive months, South Korea has had no oil imports from Iran," SHANA quoted Kasra Nouri as saying. "South Korea is the first country to completely cut off oil imports from Iran following the unilateral U.S. sanctions against Iran."
Three sources familiar with the matter told Reuters in early July that South Korea would not lift any Iranian crude and condensate that month, halting all shipments for the first time in six years amid U.S. pressure to cut all imports of Iranian oil from November.
In May the United States pulled out of a 2015 deal between world powers and Iran under which international sanctions were lifted in return for curbs on its nuclear programme.
Washington decided to reimpose sanctions and has told other countries they must halt all imports of Iranian oil from Nov. 4 or face U.S. financial measures. - Reuters
Win a prize this Mother's Day by subscribing to our annual plan now! T&C applies.
