We appear to be in rather peculiar and unsettling times. A year ago, conversations and fears were over the high oil price, which until September 2014, had been above $100 a barrel . Since a high of $115 in July 2014, it has plummeted, with West Texas Intermediate falling to $43 and North Sea Brent Crude marginally higher at $47 earlier in the week. Today, both have rallied to around $48, with an untypical mere 21 cents between them. Since Brent normally trades at least several dollars above WTI, any apparent synchrony of the two often reflects price-volatility, as indeed is the case now. It is fair to say that the crash in oil price was not anticipated by most people who keep an eye on the oil supply situation, and accordingly, its cause is a matter of intense speculation, with the future prognosis even more so. Among the […]