The vicious cycle and direct relationship of an oil price decrease are both inevitable economic scenarios that every country has to deal with so graciously. But with a kind of promptness that every world leader should dearly possess. In brief, the decline in oil price has started last Tuesday as it reached to a flagged down rate of $100 per barrel. However, the tension in Libya continues to sow terror and havoc to each and every citizen. In Europe, the price of crude oil according to its US benchmark is approximately 71 cents to $100.20 per barrel.

Oil price goes deep down to $100 per barrel this week.

Oil price goes deep down to $100 per barrel this week.

In addition, the so-called Brent crude which is the benchmark for international oils was at 82 cents as compared to its previous price of $10.89 according to the ICE Futures in London. Oil prices have distinctively fell down after supplies were disrupted from Iraq. On the other hand, oil stocks from Libya have drastically increased. The roller coaster scenario an oil price increase or its prominent reduction in cost make our lives even more difficult insofar as economic adjustments are concerned.

Category: Interesting

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