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7/18, 5:45 PM (Source: TeleTrader)
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Oil prices fall to lowest level in month

Prices of contracts for the delivery of crude tumbled on Thursday, following a spike in value earlier today, when the Iranian Revolutionary Guard seized a foreign oil tanker for smuggling fuel, claiming one million barrels of crude oil were found on the tanker. The oil futures reached the lowest levels since July 19.

West Texas Intermediate for shipment next month dropped 2.69% to $55.09 per barrel at 5:27 pm CET. Brent for settlement in September lost 2.70% to $61.87 for one barrel.

Breaking the News / MD