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The price of oil hurtled well past the $100 barrier on Monday but sits back at $90 on Tuesday, following President Trump’s statement that the war on Iran would soon be over.
Despite the dip, the world still is still facing up to a rise in price of close to a third (29 per cent) since before the first strikes landed, something which promises a big impact on people’s finances.
What we refer to as oil is typically the contract price of Brent crude – a global benchmark for pricing of the commodity regardless of its origin. Brent crude comes from the North Sea.
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