OIL PRICES DOWN ON IRAN EXEMPTIONS

— Oil prices fell on Tuesday after Washington granted sanctions exemptions to top buyers of Iranian oil, lifting supply concerns and turning the market’s focus to worries that an economic slowdown may curb fuel demand. Benchmark Brent crude futures were down 53 cents at $72.64 a barrel by 1243 GMT. US West Texas Intermediate crude futures were at $62.80 a barrel, down 30 cents from their last settlement.

— AP Exemptions to buyers of Iran oil have lifted supply concerns.