Will Brent Break Below $70 This Year? ...Middle East

Brent oil prices briefly slumped to $70 per barrel on Monday as fears of a recession and a wider banking crisis roiled markets and sent speculators fleeing riskier assets.  By Wednesday, Brent Crude had bounced back to $75 a barrel, and WTI Crude had returned to above $70 per barrel.  Yet the 10% slide in oil prices in the past two weeks has had analysts wondering whether $70 was the bottom for oil prices this year. Will banking and economic jitters drive further declines to below $70, or will China’s rebound and the recovery of…

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