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NOTHING IS PERMANENT EXCEPT CHANGE

The oil market is becoming increasingly dangerous, analysts say — and crude prices are feeling the pressure

  • International benchmark Brent crude has tumbled nearly 9 percent from last week’s high of more than $79 a barrel. It’s most recent dip comes amid emerging evidence of higher global crude production.
  • “Political and economic events are shaping the oil market in a way that they have not shaped for quite some time,” Tamas Varga, senior analyst at PVM Oil Associates, said in a research note published Thursday.
  • Still, some investors say a recent dip in crude futures represents a buying opportunity because U.S. sanctions against Iran and other supply disruptions could reignite fears of a supply crunch.

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