Monday saw the imposition of sanctions on Iran, but oil prices didn't spike. Analysts said that waivers, which allowed major buyers to 8 jurisdictions, allowed Iranian crude exports to continue. See more at: http://gulfnews.com/videos
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00:00Hello, I'm Sarah Deer.
00:03Sanctions are coming.
00:04Well, sanctions have come already.
00:06Sanctions imposed by the US hit Iran today, but that did not cause a spike in oil prices.
00:11In fact, Brent crude prices fell about 25 cents to 72 dollars a barrel.
00:16And that is because of the exemptions that the US has given to eight jurisdictions, meaning
00:19that effectively Iran is still producing and exporting oil.
00:22Elsewhere, global stocks fell on Monday, halting a four-day rally as a result of rising anxiety
00:27surrounding global trade and a rising interest rate environment in the US, both of which
00:32dampened risk appetites.
00:33Here in the UAE, the Emirates NBD PMI showed an improvement in new orders in October, reflecting
00:38improved business sentiment in the non-oil private sector.
00:41Thank you so much for watching.
00:43This has been the Gulf News Business Wrap-Up.
00:45I'm Sarah Deer.
00:46And for more news, please check out gulfnews.com forward slash business.