A chance for cheaper oil is slipping away

A top global risk consultant says that stalled Iranian nuclear negotiations will put a floor under tumbling oil prices.

After 2013 ushered in one of the most placid years in oil markets in recent memory, 2014 has provided more than its fair share of surprises. A more volatile geopolitical landscape has been at the forefront, igniting prices beyond $US115 a barrel before a deteriorating growth outlook and rising supply combined to force crude below $US90 and hampered attempts to ignite inflation in key economies.

The oil bears are yelling from the rooftops after Brent crude hit a new four-year low overnight but, according to lauded political scientist Ian Bremmer, we are quickly approaching a floor.



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