Oil falls again with the continued oversupply
{International: Euphrates News} Oil prices fell during trading Thursday January 21, due to concerns about oversupply of crude abandon for limited gains that had been achieved earlier.
And it landed the US crude oil prices in the futures below $ 27 a barrel Wednesday for the first time since 2003, at a time when global financial markets suffered a decline amid investors' fears of synchronization of the huge surplus in crude supply with economic and especially in China slowdown.
Low morale in the market and has been a In terms of producing countries pumping between one million and two million barrels of crude per day above the level of demand, which creates a surplus of huge inventories.
and abandoned oil prices from gains made ​​earlier Thursday where they were trading WTI US mediator in the contract month closest maturity when to $ 28.17 a barrel by 11:41 pm Moscow time, a decline of 18 cents or 0.63% from the previous settlement price.
The price fell global Brent crude blend "Brent" 28 cents to $ 27.60 a barrel, after that also went down to the lowest level since 2003 in the previous session.
In addition to concerns about oversupply in the global markets are growing fears that the witness China's economy further slowdown and shrinking demand in the second largest oil consumer in the world.
He said, "HSBC" Bank on Thursday: "The decline in commodity prices Initial oil reflects the decline in demand, "Analysts say that the continuation of the global surplus will continue to put pressure on Alsoq.anthy http://alforatnews.com/modules/news/article.php?storyid=106665