Tag: oil price
Explained: Why oil prices are sharply down and how low can they go
[ad_1] Oil prices recovered some of the early losses in early trade on December 7. However, Brent crude futures continued to trade below $75 a barrel, the lowest levels since June, on the back of high US crude output and gasoline inventories. Investors also remained concerned about sluggish demand and economic slowdowns in the US and China. However, it must be noted that a fall in crude oil prices is a positive for importers of the commodity like India and its oil marketing companies. Why oil prices fell? Oil prices have fallen by about 10% since the Organization of the ... Read more