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Sorry, but lower oil prices will not last |
| Home | (Telegraph) - Over the past month oil prices have fallen by 14 per cent. And on Friday crude dipped below $63 (£33) a barrel for the first time since March. Over the past three years the price of oil has tripled, peaking at $78 in mid-July. But now the price has fallen in eight of the past nine trading days and is roughly where it was in January. No wonder there is talk that the "oil price cycle" has turned, and that we're heading back to $25 a barrel, the average during most of the 1990s. |