Brent North Sea crude oil fell on Friday (November 14th) as prices for January contracts begin to take shape.
On Thursday (November 13th) the price for a barrel of crude oil in December was set at just $51.99, one of the lowest prices seen in several years.
Of course many businesses are hoping the low oil prices will provide some respite to otherwise rising costs associated with supply chains at present, but the fluctuation - whether up or down - is often enough of a problem to many companies.
Supply chain management is increasingly becoming focused on issues such as the fluctuating oil prices and the environmental impact of a company's actions, and as such a supply chain management company may be contracted in order to make sure a business is making the most of the opportunity to enhance its supply chain.
Certainly, a reliance on oil may be one aspect of a supply chain a business may wish to change, as Iran's cartel representative, Mohammad Ali Khatibi, has been vocal about the country supporting the idea of cutting production further, in order to maintain high costs.
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