Steep fall in crude price a result of global news flow: Argus Media
Published On: September 20, 2012 18:34 (IST) | Duration: 4 min, 28 sec
Crude prices have fallen nearly 5 per cent this week. Azlin Ahmad, editor, Argus Media explains that the steep drop in oil is a combination of technical and fundamental factors. While the slide on Monday may have been attributed to factors such as options expiry, the fall since then is due to the sharp build in oil inventories in the US and comments from Saudi Arabia suggesting that they will take measures to keep oil prices in check.