| Oil is a key economic input and its price has fallen sharply. All things being equal, that's a plus for global growth, but the markets are in turmoil. Here are six key reasons why oil's price plunge has the markets gyrating.
In 2011, 2012 and last year oil averaged $US95.13 a barrel, $US94.15 a barrel and $US98.05 a barrel respectively, a spread of just $US3.90. It averaged $US100 a barrel in the first six months of this year and got to $107.26 a barrel on June 20. Monetary policy was still loose and the consensus was that the oil price would not move sharply in either direction...............................................Full Article: Source
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