CNBC | US crude sinks 4.2%, settling at $68.06, after Treasury Dept eases market's Iran sanctions fears CNBC Oil prices extended early losses on Monday, dropping about $3 a barrel, after Treasury Secretary Steve Mnuchin said some crude importers may receive waivers to continue buying supplies from Iran, despite U.S. sanctions on the Middle Eastern country. US signals it would consider some exemptions on Iranian oil India, Iran discuss possible impact of US sanctions on bilateral oil trade US still working to wean allies off Iranian oil |