Alf Young – Forget Project Fear. Project Reality, in terms of oil prices, now stalks North Sea

HAVE you noticed what is happening to the price of oil? In mid-June, the benchmark North Sea crude, Brent, was trading at $115 a barrel. Now, less than four months later, it is struggling to stay above $90. As I write it’s a shade under $91, down by more than one per cent in the past twenty four hours alone.