Oversaturated market and expensive dollar pull oil prices down

The futures for WTI oil dropped to $50 per barrel yesterday, which is the the lowest price since April. At the end of the day it reached $50.15, per barrel, TASS reports.

According to the latest information, Brent crude is $56.60 a barrel.

The reduction of prices is associated with significant excess of supply over demand of oil, as well as the strengthening of the dollar.