| Global oil prices today fell below $90 a barrel—good news for the global economy at a time of fears of a renewed contraction, but a risk for Saudi Arabia, whose unremitting war for market share is one reason for the plummet.
The price of the internationally traded Brent benchmark fell to $89.46 in after-hours trading, about 22% lower than its 2014 peak of $115.71 on June 19. US and European GDP could get a lift if oil prices stay this low for awhile, which is not far-fetched given projections of a continuing US oil production surge in 2015...............................................Full Article: Source
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