Oil prices near a seven-year low

Global oil prices continue to fallGlobal oil prices continue to fall

Crude oil prices have slumped to their lowest levels in seven years, with further losses likely in the coming weeks. On 4 December, the Organization for Petroleum Exporting Countries (Opec) agreed to continue its policy of seeking market share rather than supporting prices, which saw US crude oil values falling to less than $40 a barrel. Prices are now at their lowest levels since the close of 2008, when crude-oil futures price fell to around $34. Opec’s organisational disarray has promoted renewed selling and is causing widespread concern in the sector. Read more…

Samsung in hot water over TV power consumption

Samsung under fire as allegations emerge over ‘gaming’ lab testsSamsung under fire as allegations emerge over ‘gaming’ lab tests

Consumer confidence is being tested again following news that discrepancies have been found during the official testing of Samsung TVs in Europe. An EU-funded research group says it has logged higher energy consumption rates for the manufacturers’ TVs in real life than were recorded in lab conditions, leading to allegations that the company is gaming the testing process and bringing into question the veracity of Samsung’s power consumption and emissions claims. Read more…