Oil falls 1pc ahead of US announcement to impose further sanctions on Iran

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Oil prices slip 1 per cent as investors took profit ahead of an expected announcement from Washington to impose more sanctions on Iran, Reuters reports.

Brent crude futures fell 94 cents, or 1pc, to $93.45 by 2308 GMT, while US West Texas Intermediate crude was at $86.14 a barrel, down 92 cents, or 1.06pc.

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