Oil price: five reasons why oil has re-entered a bear market
The oil price has fallen by more than a fifth since it hit a year-high of $69.63 a barrel in May
Jul 8, 2015
Oil re-entered a bear market yesterday as the price for Brent Crude, the international benchmark, recorded its largest one-day loss since February.
On Monday, the oil price fell by six per cent and it has continued to dwindle, reaching $55.40 a barrel at around 8am BST today. The price of Brent has now fallen by more than a fifth since it hit a year-high of $69.63 a barrel in May. Bear markets are commonly defined as occurring when prices fall 20 per cent from their peak.
So what is causing the slide?
The TRUTH will set you FREE.
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