Iran and Saudi Arabia's escalating conflict makes the possibility of Opec regaining control of the world markets all but impossible, say traders.
Oil prices slumped to below $35-a-barrel for the first time in over a decade as a new round Opec warfare and the world's record supply glut weighed on traders. The price of brent crude, the world's benchmark, fell by as much as 5pc to $34.27 on Wednesday, hitting lows not seen since 2004...............................................Full Article: Source
|