Why a small dip in the oil price matters an awful lot
by Phillip Inman, economics correspondent from on (#3Q2F)
A combination of extra production and hoarding will keep lower petrol prices at the pumps for a little while longer
After a mini rally, oil prices are falling again. From $62 a barrel 10 days ago, Brent crude has slipped to $58.43 on Tuesday.
It may not seem like much of a cut after the collapse in world oil prices that sent Brent tumbling from $115 to $45 a barrel between last June and January, but it is still significant.
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