Brent crude falls below $56 a barrel

The price of Brent crude oil fell below $56 a barrel at the London Stock Exchange trading.

In particular, at 15.20 Moscow time, Brent crude fell by 3.35% to $55.96 per barrel, Censor.NET reports citing Gazeta.ru.

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By this time, WTI crude lost 2.09% of its price and was trading at $52.99 a barrel.

The oil prices have been consistently dropping due to fears of oversupply in the market.