By Adam Rose BEIJING (Reuters) - Oil prices fell more than a dollar on Monday and approached a five-year low hit early this month after Morgan Stanley cut its price forecast for Brent crude, saying oversupply will likely peak next year with OPEC deciding not to cut output. "Without OPEC intervention, markets risk becoming unbalanced, with peak oversupply likely in the second quarter of 2015," Morgan Stanley said in a report. Brent crude for January delivery dropped to a low of $67.73 (43.5 pounds) a barrel, near last week's trough of $67.53 which was its weakest since October 2009. ...
Read More http://ift.tt/1w46Oh7
No comments:
Post a Comment