Bank Of Baku

Oil price continues to fall

Oil price continues to fall
# 16 June 2016 08:11 (UTC +04:00)

Baku - APA-Economics. The US NYMEX crude price dropped $0.42 to $47.59 a barrel.

 

Brent crude went down $0.31 to close at $48.66 a barrel - the lowest since May 24.

 

Oil price decline was allegedly caused by increase of oil wells in the US and coming UK's referendum. The oil price decline was accelerated by the Federal Reserve’s decision on leaving interest rates unchanged on Wednesday.  

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