
Brent crude, the benchmark for world oil prices, hit a 13 month low on August 13 before recovering to end at $104.28 a barrel. Since mid-June prices have gradually come down by more than nine percent. The most recent losses came after the International Energy Agency (IEA) earlier this week lowered its demand forecast for 2014, with weaker than expected second-quarter economic growth in developed countries and a reduction in oil stockpiling on the part of China.









TRESCA-Americas-Energy-Aug14-Bro-s.pdf