Oil prices closed below $ 30 a barrel for the first time in 12 years in New York trading on Friday, as markets brace for the return of Iranian exports after the lifting of sanctions imposed on it.
The price of a barrel of crude Intermediate (WTI) for February delivery to $ 29.42 a barrel, down to $ 1.78 from the previous day.
And a barrel of oil in New York has fallen B7,50 dollars since the beginning of the year, or about 21 percent.
This sharp decline comes on the back of expectations that Iran begin promptly exported large quantities of crude oil after the lifting of nuclear sanctions against it, the beginning of next week probably. Said James Williams of «W T RGV Economics»: This command will put 500 thousand additional barrels in the market.