A welcome drop in the global price of crude oil - FT.com:
"The financial markets’ downbeat, if not downright grisly, start to the year continued this week as stocks in several countries and the global oil price fell sharply.
That they are dropping together, though, does not mean they are sending the same signal. The evidence suggests that the slide in the oil price, this week dipping below $30 a barrel for the first time in more than a decade, reflects a welcome increase in supply rather than a worrying fall in demand.
While there are undoubtedly some losers from the fall in the price of crude, notably oil-exporting countries and banks exposed to the energy sector, the boost to real incomes in the rest of the world should outweigh them."
'via Blog this'
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