WASHINGTON, D.C. -- The price of North Sea Brent crude oil has fallen to around $91/bbl, the lowest level in more than two years and about 21% lower than its year-to-date peak of $115/bbl on June 19, the Energy Information Administration has reported. Before its recent decline, average monthly Brent spot prices had traded within a narrow $5/bbl range, from $107 to $112/bbl, for 13 consecutive months through July 2014.
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Lower demand, higher supply drive oil prices to lowest level since '12, EIA says
![Lower demand, higher supply drive oil prices to lowest level since '12, EIA says]()
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