Traders pessimistic on oil amid strong supply

Note: This section contains information in English only.
Source: WBP Online
Oil futures continued to slide on early in the trading session on Monday, as investors attempt to evaluate Iran's impact on the oil supply, once the sanctions are lifted. The New York WTI traded 0.9% lower to $46.71 a barrel, while the European benchmark Brent Crude declined 1% to $51.70 a barrel by 7:10 AM GMT. Iran intends to increase its production by 500,000 barrels per day immediately after the sanctions are lifted. 
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