Crude futures fell further today following last weeks momentum on expectation that the lifting of Iran sanctions will put an over excess supply on a heavily saturated market.
Brent front month contracts for September closed down $0.45 cents settling at $56.65 per barrel.
WTI contracts for August delivery softened by 1.5% percent settling at $50.15 per barrel.
It should be noted that WTI futures broke the $50.00 level during the trading day, these prices haven't been witnessed since early April.
Bunkers were softer today in the primary ports.
