Why Is Oil Prices Going Down
Brent crude, the main international benchmark, was trading at around $53 a barrel on Wednesday. The American benchmark was at around $52 a barrel. Why did the price of oil drop in the first place? This a complicated question, but it boils down to the simple economics of supply and demand..Oil prices settled down on Thursday, snapping a three-day rally after notching another 2016 .
Why did the price of oil drop in the first place? This a complicated question, but it boils down to the simple economics of supply and demand..But since June prices have more than halved. Brent crude oil has now dipped below $50 a barrel for the first time since May 2009 and US crude is down to .Global oil prices in the second week of January,2015 came down to $50 a barrel from $111 in June,2014, almost a 60 fall in prices. This sharp fall in oil prices . A drop in oil prices means less money in the hands of oil producers but more money in the hands of oil consumers. Currently the U.S. is .
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THE oil price has fallen by more than 40 since June, when it was $115 a barrel. It is now below $70. This comes after nearly five years of stability..
Spot price of Brent Crude, updated on Joss Fong/Vox The short version of the story goes like this: For much of the past decade, oil prices have .
While oil prices are slowly recovering from February lows, the Canadian oil patch is assessing the damage, but can it really stage a comeback on the global scene?.