Oil prices drop again

The prices of July futures for Brent oil dropped by $0.21 (0.41%) to $51.63 per dollar on the ICE Exchange in London, as of 07:63 (MSK).

The July futures for WTI oil declined by $0.29 (0.58%) and reached $49.37 per barrel at the New York Mercantile Exchange (NYMEX).

There are some concerns that output from global producers could accelerate after the nine-month mark, while others say curbs will be offset by a reinvigorated US shale oil industry — keeping prices under pressure, the FT reported.