Oil hits four month low amid risk-assets sell-off

Brent crude is trading at a four-month low following the International Energy Agency's (IEA) decision to boost oil supply last week.

Oil is trading at $103.19 per barrel mid-morning, down around $1.5 dollars from Friday's close. The fall leaves the commodity trading at its lowest level since mid-February when it was trading at $102.36. The price of crude has dropped back in the last two months as concerns about the strength of the global economic recovery grow. It has come down 20% from a high of $127 per barrel in April, with the fall gaining momentum last week after the IEA said it would be releasing an extra 60m barrels of oil into the market. The IEA, which has only twice before in its history taken such ...