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U.S. crude oil falls below $40 a barrel

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U.S. crude oil falls below $40 a barrel

On the 2nd of August, there was one more drop in oil prices, as a result U.S. crude oil fell below $40 a barrel, Reuters reports on Tuesday.


According to the traders, U.S. crude futures settled down more than 1.4 percent, that is 55 cents, after initially growing over 2 percent. Now it's priced at $39.51 a barrel. The previous two months, oil rose above $50 a barrel.

Meanwhile, the dollar hit a six-week low.

Experts believe that the government of the USA will report falling of crude stockpiles 1.4 million barrels last week. A preliminary inventory report is to be issued on Wednesday by Trade group American Petroleum Institute (API).

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