05.04.2016 - Oil price falls again as Iran backs away from production cuts
Oil prices fell after Iran indicated it would continue to increase production and exports until it reaches the market position it enjoyed before the imposition of sanctions, oil minister Bijan Zanganeh was quoted by the semi-official Mehr news agency as saying. Brent crude, the European benchmark for oil, down 0.36pc to $38.54 a barrel on Monday morning. West Texas Intermediate, the US benchmark, slumped 0.8pc to $36.49, extending Friday’s 4pc tumble...............................................Full Article: Source
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