Moscow. December 28. Oil prices, which has grown following the results of last week almost to the highest level since the beginning of December, were sharply lower on Monday on the statements of Iran’s intention to raise production, reports Bloomberg.
The cost of the February futures for Brent crude on London’s ICE Futures exchange by 14:52 GMT decreased by $0.74 (1,95%) – to $37,15 per barrel.
Futures price for WTI crude oil for February in electronic trading on the new York Mercantile exchange (NYMEX) dropped by this time of $0.97 (2,55%) to $37,13 per barrel.
As noted by Bloomberg, the average price of Brent by the end of 2015 will be minimal for 11 years due to excessive supply of oil on world markets. The increase of oil supply from Iran is expected to reinforce the imbalance in the ratio of supply and demand.