OIL PRICES LIKELY TO FALL FURTHER, SAYS IEA (STA BREAKING NEWS and ARCHIVES)

by STANews , Saturday, November 15, 2014, 16:22

The IEA, a consultancy to 29 countries, said weak demand and the US shale gas boom meant crude's recent fall below $80 a barrel was not over.

On Friday, Brent crude, one of the major price benchmarks, traded at $78.13 a barrel, near a four-year low.

"It is increasingly clear that we have begun a new chapter in the history of the oil markets," the IEA said.

"Barring any new supply problems, downward price pressures could build further in the first half of 2015."

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http://www.bbc.com/news/business-30049294