The Brent crude for February delivery fell again today in the London market trading this morning at $ 48.55, the lowest since May 2009.
Oil Futures traded at Intercontinental Exchange (ICE) shortly before 0900 GMT 3.1% from Friday’s close, so it continues its strong downward trend due to excess production and weak demand, according the experts.
The Brent for February delivery had opened the day at $ 49.21, up 1.7% from Friday’s close.
On the other hand oil Texas (WTI) for delivery in February opened with a decline of 3.39% ($ -1.64) and 09.05 local time (14.05 GMT) was trading at $ 46.72 a barrel on the New York Mercantile Exchange (Nymex).
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