Oil prices fell below $32 a barrel

Oil prices fell below $32 a barrel

Oil prices are again passed to the reduction: the cost of March futures for Brent crude oil fell to 31,89 USD per barrel, WTI – up to 30,95 USD per barrel.

MOSCOW, 25 Jan. Oil prices once again moved to decrease after active growth, which was demonstrated on Monday morning; the Brent oil price fell below $ 32 a barrel, according to AFP.

As at 11.25 Moscow time the March futures price for North sea petroleum mix of mark Brent fell by 2.99% to 31,89 USD per barrel (although the morning of the quotes were raised in the region of 33.6 per dollar). The price of March futures for WTI crude oil — on 3,90%, up to 30,95 USD per barrel.

Oil prices returned to negative dynamics on the background of an oversupply of raw materials on the global market, as investors closed short positions. “Investors get the profits after strong growth (price — ed.)”, — told Reuters the analyst Phillip Futures Daniel Ang (Daniel Ang).

The situation with reduced demand and excess supply in the commodities market remains unchanged. In the coming months investors are expecting the arrival of Iranian oil that would further exacerbate the situation.