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Commodities Briefing - Categorized | Oil, Price Watch, Trading more

Oil settles under $60 as traders fret about Iran

Posted on 08 May 2015

Oil futures settled back under $60 a barrel on Thursday, with traders increasingly worried about how much oil Iran can add to the global market should sanctions be lifted as part of a deal with world powers over its nuclear program.
June crude fell $1.99, or 3.3%, to settle at $58.94 a barrel on the New York Mercantile Exchange. Prices had settled near $61 Wednesday at their highest level of the year. Brent crude for June delivery on London’s ICE Futures exchange settled lower by $2.23, or 3.3%, lower at $65.54 a barrel………………………………………..Full Article: Source


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