Oil Prices: two-months' fall continues with no sign of abating!
The loss of crude oil prices shows no sign of abating for the second successive month, defying two major factors that in theory should reverse the trend; they are the volatility in the Middle East around Israel and the suspension of oil exports from two key Libyan ports, coupled with slow production, across the country due to a dispute between two rival political groups. As of 15:00 GMT on Wednesday, the prices of WTI and Brent were at $69.57 and $72.96 respectively. The price of LNG, liquified natural gas, however, was at $2.20, perhaps in light of the onset of the fall in the northern hemisphere. The latest manufacturing data from China, the world's second largest economy, meanwhile, partially accounts for the decline in oil prices; China's key indicator that reflects the manufacturing strength, manufacturing purchasing managers index, PMI, fell again in August to 49.1, when the expected value was 49.5 for the same period. According to China's National Bureau of Statis
