News

February 09, 2010

Expect The Unexpected As Oil Markets Start 2010 In Ebullient Mood

By Martin Clark

If high oil prices are a good thing – which of course depends on whether you’re a producer or a consumer – then the year started with a bang. The record US$147 per barrel price of mid-2008 seems a long way off now, but in the end, after the near decimation of some of the world’s major economies and capital markets, last year was much about gradual recovery.

By the turn of the year, crude oil prices had regained a lot of lost ground from their precipitous fall and were resting around the...