1. Brent oil slumps under $35 for first time since 2004

Brent oil slumps under $35 for first time since 2004

Brent oil prices tumbled today underneath USD 35 for the first time in 11 years, plagued by abundant oversupply and amid the ongoing row between key producers Iran and Saudi Arabia.

By: | Published: January 6, 2016 5:21 PM
Brent crude oil, Brent oil, lobal oil prices At about 1030 GMT, European benchmark Brent North Sea crude oil for February delivery sank to USD 34.83 per barrel– the lowest level since July 1, 2004. (Reuters photo)

Brent oil prices tumbled today underneath USD 35 for the first time in 11 years, plagued by abundant oversupply and amid the ongoing row between key producers Iran and Saudi Arabia.

At about 1030 GMT, European benchmark Brent North Sea crude oil for February delivery sank to USD 34.83 per barrel– the lowest level since July 1, 2004.

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