Oil prices continue to fall - loses 20 per cent in 2016News // January 12, 2016
Oil prices have continued to fall in 2016, and have now fallen by nearly 20 per cent since the beginning of 2016, following their steep falls in 2015.
As of 11 January, Brent crude futures were at US$30.72 a barrel, having earlier fallen to US$30.66, their lowest level since April 2004, according to Reuters
West Texas Intermediate was trading at US$30.66 per barrel, also around 20 per cent lower than at the beginning of 2016.
Some analysts have suggested that the price could fall to US$20 a barrel in the coming months. RBS in the UK has said it believes it could fall even further - to US$16/barrel.