Brent falls to another 12-year low as Iran supply looms | Reuters

Brent falls to another 12-year low as Iran supply looms | Reuters:

"Brent crude fell to a new 12-year low on Thursday as the prospect of more oil supplies from Iran loomed, amid gloom over a world already awash with supply and concerns about global economic growth.

The global benchmark LCOc1 dropped as far as $29.73, the lowest since February 2004 and down more than 1.5 percent. After spending most of the Asian trading day in negative territory, it was up 17 cents at $30.48 a barrel at 0730 GMT (0230 ET).

West Texas Intermediate (WTI) CLc1 was up 43 cents at $30.91 after falling earlier in the day."



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