Oil prices slipped on Wednesday as the European Union seeks to circumvent U.S. trade sanctions against Iran, and on weaker U.S. gasoline prices. Brent futures fell 36 cents, or 0.6 percent, to settle at $61.14 a barrel, while the most active U.S. West Texas Intermediate (WTI) crude contract for March fell 39 cents, or 0.7 percent, to settle at $52.62. France’s foreign minister said he expected a European-backed system to facilitate non-dollar trade with Iran and bypass fresh U.S. curbs imposed after Washington quit a landmark nuclear deal, would be established in coming days. Peter Cardillo, chief market economist at Spartan Capital Securities in New York said that EU announcement “knocked the wind out of oil prices.” Analysts also said falling […]