Brent crude hits $106/bbl

Will Brent crude fall below the $100/bll mark?

The question of Brent crude and its impact on European Gas and Power prices has long been a contentious subject. UK industry argues that Brent Crude has no place as a European, and therefore, UK commodity driver. Much lobbying has taken place to sever this much maligned link.

With the OPEC nations also voicing concerns over inflated oil prices and the global recession spreading far and wide, it is expected that Brent crude will fall below the $100bbl mark in 2012.