Quote (Furio @ Oct 17 2014 04:49pm)
Canada. Prices fell this weak from around 1.39-1.49 to 1.08-1.18
Someone said it had something to do with a Saudi/US deal? I've googled it but I've found no information on why prices are so low.
They didn't fall nearly that much. It fell from a high of about 1.50 to a low of about 1.10 but that's over four or five months. No where where it was 1.49 last week is it 1.08 this week. In Ontario last week it hovered around 1.22-1.26 and this weeks its been between 1.15-1.17. In Alberta it went from 1.20-1.21 to 1.08-09.
It's simply because the price of crude is hitting prices we haven't seen in 4-5 years. And the reasons crude rises and falls has a lot of reasons behind it.