Price of Brent crude back below $60 a barrel

• 23.02.2015, 12:19

The price of Brent crude oil has fallen below $60 a barrel on news that Oman plans to increase oil production, even given the oversupply in the market.

Russian newspaper Gazeta.ru reported it on Monday.

April futures contracts for Brent crude during trading on London's ICE Futures Exchange as of Monday’s morning had fallen by 0.40% to $59.78 per barrel.

The April futures price for WTI crude oil on the New York Mercantile Exchange dropped by 0.96% to $50.32 per barrel.