Oil prices fall below $ 50

Oil prices fall below $ 50

PM: 04: 02: 05/07/2016 Khandan



Khandan- Oil prices fell on Tuesday and returned the price of Brent crude to less than $ 50 a barrel under the spotlight focuses on economic concerns, as many analysts believe that demand for crude will stumble this year.

The price of the global London Brent crude to $ 49.47 a barrel 0730 GMT, a decrease of 66 cents, equal to 1.3 percent from the last price. The American fell measurement WTI 89 cents, equivalent to 1.9 percent to $ 48.08 a barrel, according to the agency "Reuters".

Analysts say concerns about the global economy cast a shadow on the demand and expectations on prices.

The British Barclays Bank in a note to clients "is likely to result in decline in the global economic outlook and an uncertain financial markets and the effects on important sectors of the oil demand growth to exacerbate the already lackluster industrial demand growth trends."

https://translate.googleusercontent.com/translate_c?depth=1&hl=en&rurl=translate.google.com&sl=ar&tl=en&u=http://www.faceiraq.com/inews.php%3Fid%3D4913970&usg=ALkJrhh36irS8am42_1gV9gpMdLt6igi-Q

Not unexpected. The price has been staying pretty flat at around $48/BBL for months now. Until something drastic changes i.e. a significant reduction in the production or threat to the supply chain, we will see prices remain stable right about where they are.