OIL DOWN

Oil prices fell to a nine month-low in August  as surging supply from OPEC and the US flooded the market and fresh demand wilted.

This has lead to an "oil glut" in the Atlantic region despite the twin crises in Iraq and Ukraine/ Russia.

Consequently petrol prices are set to fall also. Oil analysts see the glut as a defence against any economic shock if the crisis in Ukraine escalates.

It seems as if we have entered a phase of instability and volatility in world events lately.