25.06.2012 - Oil glut to push price under $US70 per barrel, analysts warn

Oil prices could slump as low as $US70 a barrel in the coming months as analysts warned of an impending "oil glut". Prices for Brent crude, the European benchmark, have already fallen from $US120 to under $US90 a barrel in less than two months as the eurozone crisis deepens and concern about the global economy mounts. The collapse will offer some much needed respite to motorists and energy bill-payers...............................................Full Article: Source

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