Falling oil prices
I heard this morning that the price of oil has dropped again by about a dollar a barrel last night . It is now at a 4 month low and heading downwards.
I guess all the SLF like myself can now look forward to a corresponding drop in the fuel surcharge .! Not holding my breath though. |
Virgin Atlantic have already dropped theirs, about 10 days ago I think.
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Personally I think it will be short lived - there is nothing to show that the long term capacity / availability and demand ratio can keep the price down. It is a simple futures market after all, despite some manipulation.
But the fundamentals still say oil is far to cheap - IMHO. |
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