Source: Financial Times, 13th October 2010
Contrary to popular opinion, oil prices have remained remarkably range bound for the past twelve months - within a $70 to $80 a barrel price band. Oil markets have stabilised and returned to a more recognisable shape after several years of unprecedented price swings and volatile underlying macroeconomic conditions. Today, the oil industry has surplus capacity in all parts of the business, reducing the potential for price spikes.





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