Oil prices fell today thanks to weakened global economic climate and worries about supply disruptions, due to Iran’s nuclear programme increasing tensions between Tehran and the West.
Iran said it had tested medium-range Great Prophet 7 missiles capable of hitting Israel.
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Brent crude had slipped 20 cents to $100.48 a barrel while US crude fell 18 cents to $87.48 as inventories dropped by three million barrels last week.
Investors have expectations of stimulus measures from the US Federal Reserve and China’s authorities, while the European Central Bank may slash its main refinancing rate below one percent at its policy meeting tomorrow, reports Reuters.
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