25 July 2016
Oil prices have fallen to a three-month low, hit by rising concerns that a global oversupply of both crude and natural gas will dampen prices.
US oil fell 2.4% to $43.11 (£32.72) a barrel, its lowest level since April, meaning it has now fallen by 12% so far this month.
Brent crude dropped 2.1% to $44.75, its lowest level since 10 May.
“Crude oil markets have been under pressure as oil supplies have started growing with the resumption of output from the capacity lost due to wildfires in the Canadian oil sands,” said EY energy analyst Sanjeev Gupta.