Brent crude oil price today is stuck below $47.00 a barrel. As there are fewer company results out today – I’m guessing that with a slower news day, oil may have an effect on the FTSE 100.

The continuing issue of over-production, US shale gas improvements, higher stock inventory all add to the downward price pressure. Also, the potential and ever increasing electrification of transport is becoming a bigger issue for the industry. I guess we’re a long way off an electric jumbo jet yet though.

Oil price has halved since June 2014 and has pretty much stayed there. At one point during this price journey oil touched $28 a barrel. Did the industry really think the $100.00 per barrel was going to stay for ever?

For your information, and if you’ve ever wondered just how many litres there are in a barrel of oil – it’s 159!