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Oil prices kept going down on Tuesday, after the huge decrease in the previous session that was additionally influenced by negative expectations for supply cuts by main producing countries.
Sweet crude futures for April delivery CLJ6, Light, went down by 98 cents, or 2.7%, and currently is $36.19 per barrel on the New York Mercantile Exchange. May Brent crude LCOK6 decreased by $1.11 in London to $38.43 per barrel.
Nymex crude dropped by more than 3% and Brent reduced by 2% in the latest session. Investors quickly sold their oil contracts after the news that the oil minister of Iran announced that ... (read more)