Brent sinks below $28 as supply glut fears intensify - FT.com:
"Brent crude fell below $28 a barrel on Monday for the first time since 2003, as oil traders braced for Iran’s full return to international markets after sanctions linked to its nuclear programme were lifted.
The re-emergence of Iran, which claims it can swiftly boost production and exports by 500,000 barrels a day, threatens to add to an oil glut that has driven prices more than 70 per cent lower since the middle of 2014.
“Iran is free to sell oil to the market, and supplies should come quickly,” said Morgan Stanley analyst Adam Longson."
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