Financial shocker of the year: Oil at $60

//Financial shocker of the year: Oil at $60

Financial shocker of the year: Oil at $60

By | 2014-12-26T08:23:07+00:00 December 26th, 2014|Business|0 Comments

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Friday, December 26, 2014 12:05 AM EST

Financial shocker of the year: Oil at $60

For the first half of 2014 the oil market looked just as it had the year before, and the 2 years before that. The price of oil was more than $100 and drivers in the U.S. were paying around $3.50 per gallon for gasoline.

Economies around the world seemed to have adjusted to higher priced oil and oil companies were using high profits and debt from willing lenders to scour the world for new reserves.

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