Brent oil falls below $60 for first time in four months

An oil pump operating in the Permian Basin near Midland, Texas, US. (File photo: Reuters)

The price of a barrel of Brent crude oil fell below $60 a barrel on Wednesday for the first time in four months, weighed down by abundant US crude inventories.

The delivery price for a barrel of Brent crude slipped $2.24 to trade at $59.73 at 1545 GMT.

Last Update: Wednesday, 20 May 2020 KSA 09:55 - GMT 06:55