Oil prices plummet again

Singapore / AFP

Oil prices turned lower again on
Monday as Iran prepared to ship its
first consignment of the commodity
since sanctions were lifted,
reigniting worries over a global
supply glut. Both main contracts
had soared more than 10 percent
Friday on a report that the OPEC producers’ club was open to output
cuts that could drag prices up
from more than 12-year lows.

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