| The crash in oil prices has truly reached shocking levels at this point. Oil prices which were trading above the triple-digit mark only months ago, but have now given up gains to gravitational forces and are now hovering around the five-year low of $65 a barrel.
Oil has collapsed more than 40% this year, thanks to sluggish global demand, a strong dollar and booming U.S. oil production - which has risen to the highest output from the U.S. in three decades. Moreover, a lack of geopolitical concerns has also dragged oil prices lower..............................................Full Article: Source
|