Published On: Mon, Feb 15th, 2016

Oil gives up gains as Iran loads shipment for Europe


SINGAPORE: Oil prices turned lower again Monday after soaring at the end of last week as Iran prepared to ship its first consignment of the commodity since sanctions were lifted, reigniting worries over a global supply glut.Oil-gas-Iran

“We still have 500 million barrels of US inventories and shale producers are still pumping. Until there are significant cuts to output, the rally is not sustainable.” –AFP

About the Author

Syed Ammar Alavi

- is Lahore (Pakistan) based journalist & writer with 25-year experience in print, wire and broadcast forms of journalism. His major fields of interest are politics, film,tv,sports, climate change and technology