Fall in Brent futures could deliver $1.1trn in stimulus to global economy - Citi

The sharp drop in Brent crude futures, which is now trading over 20% below its average for the last three years may be set to deliver a welcome boots to global economic activity according to economists at Citi.

At a closing price on Wednesday of $83.78 the lower price of crude translates into daily savings of $1.8bn or $1.1trn annually as the fall feeds into lower prices for other commodities.

Brent futures ended the session 0.84% higher in Thursday trading on the ICE.