Brent at the lowest price in 12 years due to the imminent Iranian supply

January 14, 2016 14:02

Brent crude fell to a new low level in 12 years, on Thursday, with the approach of the arrival of an additional supply of Iranian oil amid fears of a global glut and concerns about the global economy.

And went down the global Brent crude to $ 29.73, its lowest level since February 2004 and down more than 1.5 percent. At 0657 GMT, the price rose 13 cents to $ 30.44 a barrel.
And ascended WTI 35 cents to $ 30.83 after falling earlier on Thursday.
US crude has been trading at a premium above the price of Brent with a rare global measurement affected negatively the prospects of ore flow more Iranian crude is likely lifting of the sanctions imposed on Tehran after perhaps by Friday.
And the second time in two days in which Brent down from $ 30 a barrel after falling WTI for that level on Tuesday.