Oil Prices Drop After U.S. Lifts Sanctions On Some Iranian Officials

Oil prices dropped around noon on Thursday, after the United States removed some Iranian oil officials from its list of designated persons subject to sanctions. As of 12:48 p.m. EDT on Thursday, WTI Crude was down 0.44 percent at $69.65 and Brent Crude was trading down 0.46 percent at $71.88. The U.S. Department of the Treasury said on Thursday it is removing several Iranian officials from its list of designated persons, including three directors of the National Iranian Oil Company (NIOC). Before the selling with the news of Iranian officials out…