Oil is below $28 a barrel

Oil is below $28 a barrel

Oil prices continue to fall on the world markets. As of 08:25 the crude oil futures of WTI dropped 0.97%, reaching $30.9. The price of a barrel of Brent crude decreased in price by 2.27%% to $28.57 per barrel.

The fall in oil prices is due to the continuing oversupply of raw material in the market, as well as expectations of Iran’s return to the global market after lifting the sanctions, RIA Novosti reports.

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