World Commodities - Oil falls below $65/bbl in first weekly drop.

Oil fell below $65 a barrel on Friday in its first weekly loss since late November, erasing the week's risk premium added since a US drone strike killed a top Iranian general as investors focused on rising US inventories and other signs of ample supply.

However, markets were still eyeing the longer-term risks of conflict, and prices were briefly supported on Friday by new US sanctions on Iran in retaliation for its missile attack on US forces in Iraq this week.

Also, a Russian navy ship "aggressively...

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