Oil continued its downward movement

Oil prices slipped to lower levels in early Asian trade on Monday.

Crude oil for September delivery fell 0.21% to $ 48.04 a barrel.

Trading oil futures fell to $ 2.97, or 5.99 percent, the sixth consecutive weekly loss

Global oil production continues to outpace demand. It is possible that the bears will continue to determine the mood of the energy markets.

After the nuclear agreement with world powers, Iran will likely focus on increasing its market share in order Waning losses penalties regardless of the impact on prices.
It is likely that the decline in global oil industry can be more severe than in 1986
According to the financiers global oil market is likely to come into balance early in the second half of 2017. if OPEK continues to pump crude
oil at current levels, it is not excluded that to happen in 2018.
There are many more have caused prices to glide rather than come into equilibrium analysts.

 Varchev Traders

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