Fears about weakening global growth drove oil prices to a four-year low yesterday, at the end of a turbulent week for financial markets that also saw world share prices drop to the lowest in seven months.
Brent, the international oil marker, sank to $88 a barrel, a level last seen in December 2010, on concerns that slowing economies around the world would struggle to absorb growing supplies. It later recovered to above $90.
If prices remain low it could test the finances of US shale projects, which have higher production costs than conventional developments, said analysts.
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