[size=30]"Brent" drops from the highest level in 3 years[/size]
16/01/2018 11:18 | Number of readings: 15 font size:
Trend Press / Agencies
Oil prices fell on Tuesday, from a three-year high, ahead of the release of preliminary US inventory data and concerns about increased production.
By 7:20 am GMT, the benchmark Brent crude was down 0.4% at $ 69.98 a barrel after hitting $ 70.09 a barrel, the highest level since December 2014.
While the price of NYMEX crude futures contract at 64.46 dollars a barrel by 0.3%.
Despite the positive outlook for oil performance over the course of this year, US production concerns dominate investors' trading with expectations of more than 10 million bpd.
Later in the day, preliminary US inventory data is due to be released.
Investors this week are expected to release OPEC data on production.