Date
7/19/2016 5:17:55 AM
(MENAFN- ProactiveInvestors - Australia)
West Texas Intermediate settled down 1.6% overnight at US$45.24 a barrel, while Brent fell 1.3% to US$47.01 a barrel.
Jasper Lawler at CMC Markets said: "A pullback in the price of oil has left oil & gas and basic resource sectors at the bottom of the UK benchmark."
Oil analyst Malcolm Graham-Wood said: "The news from Turkey over the weekend had a modest but immediate effect as the Bosphorus Strait was shut for a few hours thus keeping about 3% (EIA) of world oil off the market.
"A few hours later all seemed relatively calm and the Strait was re-opened but serves to remind us that geopolitical worries are never far away."
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