Oil price falls bellow $45 per barrel

Oil prices have taken another turn for the worse, with both WTI and Brent moving down below $45 per barrel at the start of the week.

 Fears of oversupply of both crude oil and refined products continue to act as a drag on oil, and prices have dropped to their lowest level in months. 

For the second year in a row, a multi-month rally in oil prices has come to an end in the month of July.