Weekly Fundamentals - WTI Crude Broke US$50/bbl on Oversupply Concerns

Crude oil prices extended the decline last week, as investors worried that a comeback of Iran's oil production, following lift-off of sanctions, would exacerbate the oversupplied environment. The front-month contract for WTI crude oil plunged -5.4% last week to settle at 48.14, while the Brent crude contract dropped -4.34% to 54.62 at close.

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Weekly Fundamentals - WTI Crude Broke US$50/bbl on Oversupply Concerns