Oil prices declined on Tuesday (Nov 6) after the US on Monday imposed sanctions on Iran’s energy sector but temporarily waived eight big Iran’s oil purchasers, allowing them to keep buying oil from Iran. The US crude was down 2.5% to US$61.42 a barrel and the Brent fell 2.4% to US$71.33 a barrel. Today, Nymex’s crude oil declined 0.68% to US$61.79 per barrel.