Author Topic: Oil Prices Tumble on Iran Supply Glut Fears  (Read 488 times)

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Offline thaiga

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Oil Prices Tumble on Iran Supply Glut Fears
« on: January 18, 2016, 04:30:09 PM »
Oil Prices Tumble on Iran Supply Glut Fears

The price of oil tumbled today to new 12 year lows as traders engaged in a panic sell-off, fearful that the re-entry of Iran to the international market would lead to a further fall in prices in an already grossly oversupplied market.

US WTI crude was trading down 1.5% in the early Asian session, hovering around $28.99 per barrel. These prices have not been seen since 2003.

full article: streetwisejournal
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