Note prices in article refer to Brent Crude
The oil price dropped a further $4 per barrel in London on worries about the stability of the eurozone and the word’s economic health.
The second day of dramatic oil price drops follows the global energy watchdog’s decision to release an extra 60m barrels of oil on to the market.
Oil and other commodities came under pressure as the dollar rose against the euro, driven by concerns that Greece’s parliament may not pass austerity measures that will release an international bail-out.
The second day of dramatic drops follows the global energy watchdog’s decision on Thursday to release an extra 60m barrels of oil on to the market over the next month.
The International Energy Agency’s move to sell 2m barrels of oil per day sparked an immediate sell-off, with oil falling $5 that day. It dropped a further $4, or 4pc to just under $105 per barrel on Friday.
