Oil prices take another tumble

The return of high-grade Libyan oil to the market has caused a sharp slide in the price of crude.

Oil hit the skids again this week, with the benchmark future, Brent crude, falling below $95 a barrel. This is the lowest price since mid-2012. Oil has now fallen by almost a fifth since its 2014 peak of $115 in June. It has spent most of the time since the Arab Spring in 2011 in a range between $100 and $120.

What the commentators said

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Andrew Van Sickle
Editor, MoneyWeek

Andrew is the editor of MoneyWeek magazine. He grew up in Vienna and studied at the University of St Andrews, where he gained a first-class MA in geography & international relations.

After graduating he began to contribute to the foreign page of The Week and soon afterwards joined MoneyWeek at its inception in October 2000. He helped Merryn Somerset Webb establish it as Britain’s best-selling financial magazine, contributing to every section of the publication and specialising in macroeconomics and stockmarkets, before going part-time.

His freelance projects have included a 2009 relaunch of The Pharma Letter, where he covered corporate news and political developments in the German pharmaceuticals market for two years, and a multiyear stint as deputy editor of the Barclays account at Redwood, a marketing agency.

Andrew has been editing MoneyWeek since 2018, and continues to specialise in investment and news in German-speaking countries owing to his fluent command of the language.