U.S. crude drops back below $30 as Iraq adds record output

January 25, 2016 11:39 PM

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U.S. crude drops back below $30 as Iraq adds record output

SEOUL U.S. crude futures dropped back below $30 a barrel in Asian trading on Tuesday, extending a near 6 percent fall made in the previous session, amid news that Iraq's output reached a record high last month.

U.S. crude CLc1 fell 47 cents, or 1.55 percent, to $29.87 a barrel by 2309 GMT after settling $1.85, or 5.8 percent, lower at $30.34 a barrel.

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