3. Oil prices fall below $90

  • Oil prices have fallen below $90 a barrel for the first time since 2010. 
  • Fall attributed to fears about slowing global economic recovery and increased production.
  • Increased production partly thanks to continued rise of shale exploration in the United States; possible oversupply in the market.
  • Benchmark Brent price has fallen almost 20 per cent in four months (Reuters' Jamie McGeever).