The information about Spanish economy falling into recession has put pressure on oil prices.
The North Sea Brent Oil mark slid down in price during the Monday session to 118 dollars 80 cents per barrel.
Yesterday's trading marked with positive statistics of business activity index in the US industrial sector corrected its downtrend.
The American light crude oil price of WTI has sharpened to 106 dollars 40 cents.
However, as the most experts of commodity market say, oil quotes have not been responding the macrostatistics actively.
Now the quotes are mostly prompted by a political factor, and specifically a stretching situation relatively the conflict between the West and Iran. According to analysts, until the issue is handled conclusively, the WTI oil price will hardly tick down below 100 dollars per barrel.