Crude oil prices continued to slide Monday with the Brent global benchmark and its U.S. counterpart West Texas Intermediate firmly entrenched under $30 a barrel. Brent fell 1.28% to $28.54 a barrel on London’s ICE Futures exchange for March loadings as the raising of Iranian oil sanctions weighing heavily on sentiment. WTI is still trading on its February contract and is less affected by the return of Iranian crude oil. However, it was still down 1.5% to $28.99 a barrel on the New York Mercantile Exchange. The prospect of up to 500,000 barrels a day of Iranian crude flooding an already oversupplied market is the main worry and many market observers now believe that the situation could worsen in the coming weeks, and that $25 a barrel could soon be tested. “We are likely to see some price response early in the week, but this was largely expected by […]