From $ 115 a barrel in June to under $85 today is a precipitous fall. No stops there as yet. With the world bracing for another long spell of economic woes, Gulf economies, Norway , Venezuela , Russia have serious reason to be worried. The equities and oil have fallen in quick succession. OPEC meet is far away and anyway they were never a disciplined lot. USA sprang a surprise with its oil production. South Africa, Australia, Ghana may look up with gold up. India benefits as oil falls. Sentiment is however affected by global cues.
ECB where are you? Germans one is reminded of how the Germans broke the Pound Sterling in the 1990s with their stubborn approach.
ECB where are you? Germans one is reminded of how the Germans broke the Pound Sterling in the 1990s with their stubborn approach.
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