Brent crude briefly below $ 28 in Asia Monday

Brent, the European benchmark crude for March delivery fell to 27.67 dollars briefly Monday in Asia before climbing above $ 28.

Around 01:45 GMT, Brent was traded in electronic trading in Asia 43 cents below the closing Friday at 28.51 dollars.

A barrel of "light sweet crude" (WTI) for delivery in February gave him 35 cents to 29.07 dollars.La last closing of Brent below $ 28 goes back to November 2003.

"This was due to the suspension of Western sanctions against Iran. The return of exports of Iranian crude means that the situation will worsen overabundance of supply," said analyst Daniel Ang.

Under the landmark agreement reached in July between Tehran and the major powers, the International Atomic Energy Agency (IAEA) has certified Saturday that Iran has fulfilled its obligations to ensure the strictly peaceful nature of its nuclear program.

This certification has led to the lifting of economic and financial sanctions of the European Union, the United States and the United Nations, with immediate effect.

"Iran has large oil stocks at this time and is able to sell if you wish, to significantly increase the supply," he said on his part, analyst Ric Spooner, noting that this country "should find buyers which will be a key issue. "

"The first priority of Iran will regain its customer base and market share. The Iranians want to offer attractive offers to its customers," he said.

The price of a barrel of "light sweet crude" (WTI) crude for February delivery lost $ 1.78 Friday to 29.42 dollars on the New York Mercantile Exchange (Nymex), its lowest closing level since November 2003.

In London, the price of a barrel of Brent North Sea crude for March delivery fell $ 2.09 to $ 28.94 for the Intercontinental Exchange (ICE), ending the two previous sessions as the level of New York oil and establish the lowest since February 2004.

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