Jan 04
The drop off in the oil price in the latter part of 2008 from the highs at $147 gave the market food for thought with respect to the oil price and its perception as a “one way bet”.
The lows of $32.70 earlier this year had a number of analysts targeting the $20 area, but in reality that was never a realistic bet.
The recovery since then has been stimulated by a number of factors, including OPEC production cuts. Low global interest rates have also come into play as well as stimulus …
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