SINGAPORE (Mar 19): Oil prices are a key determinant of the health of the global economy and they matter a lot to this region. But predicting oil prices is a difficult task. During the commodity price boom of 2006 to 2008, the price of the benchmark Brent crude oil more than doubled to US$145 a barrel, before easing to around US$100 in 2014 and 2015 and then crashing to a trough of around US$28 around January 2016. Since then, the price of the benchmark Brent crude oil has more than doubled to around US$62 today.

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