Pease see below for this week’s Investing.com comic, depicting the ongoing collapse in oil prices, which are struggling at their lowest levels in 12 years.
The breathtaking collapse in the oil market has intensified since the start of the year, with prices falling below the key $30-level this week. Oil futures are down almost 20% so far this month as renewed jitters over China’s economic outlook and persistent concerns over a global supply glut dragged down prices. Oversupply issue will be exacerbated further once Iran returns to the global oil market, as western-imposed sanctions may be lifted as early as Friday. Looming supply from Iran has prompted some analysts to cut their oil price forecast to as low as $5-$10.
For data, charts and analytics please visit: investing.com/commodities/brent-oil
We at Investing.com produce weekly visual representations of the hottest news in global finance. Please feel free to include the analysis and comic within any story you provide on the situation.
The caption for the comic is: “Oil’s breathtaking collapse continues”
