Analysts say 2024 will be a year of weaker oil prices, something that should bring some relief to weary consumers after two years of soaring energy costs. On Monday, the benchmark West Texas Intermediate crude price continued what has been its recent downward slide to land around US$71 a barrel. Oil prices were volatile in 2023, and have already declined approximately 16 per cent since October due to a combination of factors including growing global supply and slowing demand. Those trends are likely to continue, many analysts believe, putting further downward pressure on energy prices in the year ahead. A new report ... (full story)