Friday 6 May 2011

Oil prices plummet by $10

Brent crude fell to $111 yesterday when last week prices were as high as $126.

However, many in finance are sticking to their guns that even a $10 drop will prevent high oil prices preventing better economic recovery.

Since February global oil prices have risen around 35%.

Several sources have reported widespread global oversupply, which have led to the price drop.