Brent Crude Down To $104

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By Douglas A. McIntyre Published
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Brent crude traded as low as $104, down from closer to $120 just three months ago. The drop should continue based on data about the faltering economies of India and Brazil. Most analysts claim US stockpiles are at multi-year highs. And, OPEC says that its production is close to maximum capacity. The fall in Brent means that its May drop will be the sharpest in two years.

The sell-off has started to look like the one in the second half of 2008 after crude reached an all-time top just above $140. The blooming recession pulled crude prices down, and kept them down for over two years. The new recession which has started to grip Europe is not nearly as bad as the one in 2008, but there are more and more forecasts that Europe will pull the US economy at least partially under and add to the deceleration of emerging country growth

Douglas A. McIntyre

Photo of Douglas A. McIntyre
About the Author Douglas A. McIntyre →

Douglas A. McIntyre is the co-founder, chief executive officer and editor in chief of 24/7 Wall St. and 24/7 Tempo. He has held these jobs since 2006.

McIntyre has written thousands of articles for 24/7 Wall St. He is an expert on corporate finance, the automotive industry, media companies and international finance. He has edited articles on national demographics, sports, personal income and travel.

His work has been quoted or mentioned in The New York Times, The Wall Street Journal, Los Angeles Times, The Washington Post, NBC News, Time, The New Yorker, HuffPost USA Today, Business Insider, Yahoo, AOL, MarketWatch, The Atlantic, Bloomberg, New York Post, Chicago Tribune, Forbes, The Guardian and many other major publications. McIntyre has been a guest on CNBC, the BBC and television and radio stations across the country.

A magna cum laude graduate of Harvard College, McIntyre also was president of The Harvard Advocate. Founded in 1866, the Advocate is the oldest college publication in the United States.

TheStreet.com, Comps.com and Edgar Online are some of the public companies for which McIntyre served on the board of directors. He was a Vicinity Corporation board member when the company was sold to Microsoft in 2002. He served on the audit committees of some of these companies.

McIntyre has been the CEO of FutureSource, a provider of trading terminals and news to commodities and futures traders. He was president of Switchboard, the online phone directory company. He served as chairman and CEO of On2 Technologies, the video compression company that provided video compression software for Adobe’s Flash. Google bought On2 in 2009.

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