Brent crude price falls below $57 a barrel
(IraqiNews.com) On Tuesday, the price of Brent crude has fallen to a five-and-a-half years low as a result of a global supply glut that totally outweighed concerns of lost oil supply from Libya.
The price of Brent crude has dropped to $56.90 a barrel, falling to at least five-and-a-half years low as a result of global supply glut which outweighed concerns of lost supply from Libya where militias have closed many ports.
Noteworthy, Brent price dropped to $59 a barrel earlier this month, while experts expected that the price would touch even $50, especially with neither Russia nor OPEC willing to reduce their production.
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