Oil prices dropped this morning during the Asian trading hours after Saudi Arabia said its oil production was up and working at full capacity.
Now, oil trades at $56.04, which is another loss of $0.47 or 0.82% from the previous close of $ 56.51.
The daily range is from $55.95 to $56.54, while the trading volume is 42.051K.
Oil prices tumbled around 6% on a weekly basis, which is the biggest weekly retreat in two and a half months.
The drops prices came took place after Saudi Arabia reported that managed to regain ground from the September from the Sept 14 attack on its oil fields.
Still, however, there are some concerns about the future actions of President Donald Trump and how these will affect oil prices.