Oil prices decline over caution on US Fed interest rates, Iran sanctions; Brent at $88/bbl

News Snapshot:

Global crude oil prices dropped on Thursday, April 4, as caution over global macroeconomic activity weighed against the supply output cuts as well as geopolitical conflicts. Investors continue to look to macroeconomic data and monetary policy for potential clues on the outlook for oil demand, while financial sanctions on Iran by the US also capped gains in today's session. Brent futures for June last fell by 43 cents, or 0.5 per cent, to $88.92 a barrel. US West Texas Intermediate (WTI) futures for May fell by 57 cents, or 0.7 per cent to $84.86 a barrel, according to news agency...