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.

from Oil N' Gold Focus http://ift.tt/1fwndWv