Falling oil because of concerns over surplus
7/28/2015


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Brent crude for September delivery prices fell four cents to $ 54.58 after falling 65 cents at the close of the previous session, the lowest closing level since March 19, and a decline of 4.3%, during the week..... BAGHDAD / Obelisk: Oil prices fell in early trading Asian markets, on Monday, after it closed in the previous session to its lowest level since March, due to renewed concerns of an oversupply of oil.
US crude oil prices for September delivery fell 14 cents to $ 48, by 00:24 pm GMT, after falling at the close of the previous session 31 cents to $ 48.14, the lowest closing level since March 31, and a decline of 5.5%, during the week.
Price of Brent crude for September delivery also fell four cents to $ 54.58 after falling 65 cents at the close of the previous session, the lowest closing level since March 19, and a decline of 4.3%, during the week. The Baker Hughes oil services company reported Friday that oil producers Americans added 21 oil rigs, last week, the biggest increase since April 2014.



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