Oil, the lifeblood of many countries that produce and sell it, appears to be rapidly turning into an ever-cheaper economic curse. A year ago, the international price per barrel of oil was about $103. By Monday, the price was about $42, roughly 6
An acceleration in the recent fall in oil prices has continued, as the international benchmark dropped by more than seven per cent to settle close to $42 a barrel on Monday after a rout on global equity and commodity markets. Brent was recovering
More Iranian oil is expected on the market when economic sanctions are lifted. Oil is now headed for its longest weekly losing streak since 1986, according to Bloomberg. Oil is in a bear market, and prices are down nearly
Oil, the lifeblood of many countries that produce and sell it, appears to be rapidly turning into an ever-cheaper economic curse. A year ago, the international price per barrel of oil was about $103. By Monday, the price was about $42, roughly 6
In a normal market, you'd expect an oversupply of something and the resulting drop in prices would lead to a dramatic decrease in production and storage capacity. You'd also expect retail prices of that thing to also drop. That isn't happening with oil