Oil drops $70 a barrel in only two years
One the United Kingdom’s largest banks is warning oil prices could sink as low as $10 a barrel.
Banking and financial services company Standard Charter said Tuesday, “we think prices could fall as low as $10 a barrel before most of the money managers in the market conceded that matters had gone too far.”
Brent crude briefly hit a 12-year low of $30 Jan. 12, marking an almost 20 percent drop in the price of oil since the beginning of the year. Only two years ago, oil was trading at $100 a barrel.
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5 comments:
GOOD dont forget the Billionaire saudis have been raping Americans for how long ? Its Payback time on for the regular JOE.
Cry me a river.
At $10 a barrel, it'll be the time to go long in oil stocks. Deal of the century.
lets hope.
Funny thing about this is that the price of gas will continue to drop until it hits the amount that it is taxed. the public will scratch there heads and blame the oil companies. maybe they will figure out how much the government is raping them on gas taxes
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