Oil prices keep on falling

By Euronews with REUTERS

Published on 24/08/2015 - 16:59

Crude oil prices fell below 45 dollars (38.8 euros) a barrel on Monday, their lowest level in over six years. Analysts say the price reflects a

Crude oil prices fell below 45 dollars (38.8 euros) a barrel on Monday, their lowest level in over six years.

Analysts say the price reflects a slowing down in demand from China just as production in Iran and the US threaten a global glut.

Brent oil fell as much as 6.5 percent, extending a 7.3 percent drop last week that was the biggest in five months.

Commodities sank to the lowest in 16 years on forecasts for the weakest Chinese growth since 1990, sending investors to seek out the safest assets.

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