World crude prices fall to $46
World crude prices continued to fall to $46.33 per barrel for Brent on Monday, according to the Central Bank, as oil experts said forecasts and projections have gone through the window during such volatility in the market.
Crude prices are falling owing to the global economic crisis and not supply and demand and analysts say it’s difficult to predict when the fall will level off. Crude prices have lost over $100 per barrel since July this year. The OPEC basket was trading at $42.56 while in the Singapore Refined Products market, petrol was down to $38.50, diesel at $62.15 and kerosene at $68.95. .