Update: Oil price falls below $78

  • The price for a barrel of Brent Crude has fallen below $78. 
  • Earlier price fell below $80 mark since 2010.
  • Bloomberg suggest fall related to suggestions from OPEC that it will resist cutting supplies at a meeting in Vienna later this month. 
  • Benchmark Brent closed at $77.92, down 3.1 per cent; U.S WTI crude closed at $74.21 per barrel. 

Reuters report 

Bloomberg energy prices dashboard