Never think life has no sense of humour, or irony

Never think life has no sense of humour, or irony. After reaching a never before witnessed milestone of seeing the five year average price rise into triple digits earlier this year, crude oil prices have literally come crashing down. With Brent -the real price of oil- now trading well below US$90/bbl, investors and analysts are asking questions that never seemed on the agenda in years past. Is it just US fracking that is doing the damage? What exactly is the agenda of Saudi Arabia? Has crude oil caught the same disease that has been dogging coal and iron ore? While not everyone is convinced just yet, some analysts believe the world should prepare for a prolonged period of cheaper oil. If correct, this signals a sea change from the years behind us. Meanwhile, stockbroking analysts are forced to cut shorter term oil price forecasts and lowering upside potential for Australian oil and gas stocks during the process. My Weekly Insights: (VIEW LINK)