The price of the base oil North sea Brent crude broke through the psychologically important mark of $ 50 per barrel. New low set and Texas light crude oil WTI. At auction in new York in February of delivery of this brand are worth less than $ 48 per barrel. In recent times at this point WTI crude oil was in the crisis period of 2008. Analysts say that the news that would be able to stop falling prices, there is no OPEC refuses to reduce the production of "black gold", and stocks in American stores continue to grow.
Views:
I have the feeling that the market was going up in the last year because oil prices were going down, the market always discounts and anticipates the future. Now that this is out in the open the market is tanking simply because of profit taking. Once the market is oversold, it should start going up again because the new world order with low oil prices of oil is a new utopia for the US and the rest of world, with the exception of the oil producing countries that were robbing the rest of the world blind. US is very diversified and will thrive in this normalized world order.
Perhaps with less oil money sloshing around the Middle East, less of it will make it into the hands of terrorists.
One good thing about the fall of oil prices. ISIS should no longer have a black market for oil sale.
