U.S. oil prices hit their lowest price since March 2009 on Friday, dropping to $41.35 a barrel. Some experts worry about a global oil glut that could drive prices even lower this winter. Additional output by Iran, if export sanctions are eased, may contribute to a further drop.
I think that is good and also can mean lower petrol prices at the gas stations and this can be good as the cost of petrol, can be high at times which can be hard on people struggling with their day to day life. So this will be good for businesses, and may get more customers which will be good, and hope it stays lower during the next few weeks. This will benefit everyone and hopefully save money as well in the process, which they can use for other things, and should be interesting how the next few weeks turn out.
Now's the time to buy up stocks! Sadly, we all know the prices are just going to rise again. Then drop, again, and repeat, until we use up all of the dead dinosaurs! We need to switch to electric cars, and power them with home solar panels. It's the only long-term viable option.
A strengthening U.S. dollar has much to do with the slump, as oil is priced in greenbacks. But the main factor driving energy prices lower is simple economics: there’s too much supply and too little demand.
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U.S. oil prices hit their lowest price since March 2009 on Friday, dropping to $41.35 a barrel. Some experts worry about a global oil glut that could drive prices even lower this winter. Additional output by Iran, if export sanctions are eased, may contribute to a further drop.