FT.com / MARKETS / Commodities - Merrill warns oil prices could fall to $25
Merrill warns oil prices could fall to $25
By Chris Flood and Javier Blas in London
Published: December 4 2008 11:51 | Last updated: December 4 2008 13:56
Merrill Lynch warned that oil prices could fall as low as $25 a barrel next year if the recession affecting the US, Europe and Japan extended to China, the main driver of demand growth in commodity markets in recent years.
Francisco Blanch, head of commodities research at Merrill Lynch, said his main scenario was for oil prices to average $50 a barrel next year, but warned: “A temporary drop below $25 is possible if the global recession extends to China.”
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