Oil prices continue to fall
- Written by E.Tsiliopoulos
The price of Brent crude oil in Asian markets was pegged at $ 55.92 a barrel at 7:19, according to Reuters. At the same time, the price of US crude stood at $ 48.45 a barrel.
The rise of the dollar, the rate of which against the euro reached 1.0637 was the main reason for the decline in the price of crude says Reuters.
At the same time, new data shows that oil production in Russia in 2015 is expected to increase thereby increasing the downward trends in the product price.
"We expect downward pressure on the price of oil to increase," said Phillip Futures analyst Daniel Ang from Singapore.
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