Mexican Media Brands
Oil Prices Fall to Nine-Month Low
The price of crude oil continue to slip in spite of worries that conflict in Ukraine and the Middle East could disrupt supplies.
#economics
Share
The price of crude oil continue to slip in spite of worries that conflict in Ukraine and the Middle East could disrupt supplies.
The Paris-based International Energy Agency describes prices that are "almost eerily calm" in spite of geopolitical risks that span "an unusually large swath of the oil-producing world."
Brent crude oil is less than $104 per barrel, its lowest price since November 2013, and down from nearly $116 in July.
IEA has lowered its petroleum demand forecast by 1 million barrels per day, citing the International Monetary Fund's outlook for weak economic growth. The agency puts the current global oil supply at 93 million barrels per day and says inventories are at an 11-month high of nearly 2.7 billion barrels.
Still, analysts caution that global crude production is as always close to capacity, so any major disruption in supply would quickly push oil prices higher.
RELATED CONTENT
-
Tariffs on Autos: “No One Wins”
While talk of tariffs may make the president sound tough and which gives the talking heads on cable something to talk about, the impact of the potential 25 percent tariffs on vehicles imported to the U.S. could have some fairly significant consequences.
-
On Headlights, Tesla's Autopilot, VW's Electric Activities and More
Seeing better when driving at night, understanding the limits of “Autopilot,” Volkswagen’s electric activities, and more.
-
Inside Ford
On this edition of “Autoline After Hours” Joann Muller, Detroit bureau chief for Forbes, provides insights into what she’s learned about Ford, insights that are amplified on the show by our other panelists, Stephanie Brinley, principal analyst at IHS Markit who specializes in the auto industry, and Todd Lassa, Detroit Bureau Chief for Automobile.