Over-production and weak demand continues to batter markets, according to experts
Brent, the European benchmark price for crude oil, hit 46.13 dollars early this morning, down 2.7% from close of market Monday. According to analysts, speculation as to the United States stockpiling crude oil pushed prices down even further, after falling 50% over the past year.
Since mid-2014, Brent prices have plummeted but the pace is accelerating in early 2015. Experts believe the downward trend will continue, possibly even dropping below the 40-dollar mark.
SOURCES: La Vanguardia | PHOTOGRAPHS: Pinterest (Alexis Morfee)
