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The Price of Oil Fell after the Removal of Sanctions on Iran

  •  World

The cost of Brent crude oil at the beginning of the trading session on January 18 fell below 28 dollars per barrel, BBC reports.

The price fell to 27.67 dollars, but then again topped 28 dollars, its lowest point since 2003.

Oil became cheaper on Saturday against lifting the sanctions imposed on Iran and the possible oversupply of the raw materials in the world.

Since the lifting of sanctions, Iran can resume selling its oil on the international markets and then gain access to the international financial system, serving the trade.

 

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