Spot Cargo Markets - $30/bbl Brent a Real Possibility

摘要

Oil prices hit fresh 12-year lows Thursday as financial turmoil in China brought $30 per barrel crude within view, despite mounting tensions between Middle East oil heavyweights Saudi Arabia and Iran. Oil prices have fallen every day so far in 2016, shedding almost 10% and making US bank Goldman Sachs’ doomsday warning of sub-$30/bbl crude a real possibility. International benchmark Brent futures closed at $33.75/bbl barrel Thursday, down $2.36/bbl since Dec. 22, when JFI last published, and its lowest settlement since April 2004. Collapsing share prices caused trade on the Beijing stock market to be halted within half an hour of the opening bell Thursday.