07.01.2016 - Oil price: three reasons it has fallen below $35 a barrel
Renewed hostility between Saudi Arabia and Iran, two major military powers in the Middle East and two of its most significant oil producers, might have been expected to boost a weak oil price. Typically when unrest erupts in the region, the oil price surges as investors worry output will be affected. But while both the US and international benchmarks did surge as much as 4 per cent on Monday, this proved to be short-lived and Brent crude, the gauge that defines prices around the world and for exports from the North Sea, hit a new 11-year low around $35.70 a barrel this morning...............................................Full Article: Source
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