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Commodities Briefing - Categorized | Oil, Price Watch more

Are oil prices all set to burn investors?

Posted on 03 October 2012

A couple of weeks ago, when crude oil prices were skyrocketing, many analysts came up with different explanations as to why crude oil would reach $140 and some said it would go to $180. With the recent steep drop in prices, however, that doesn’t seem possible to me anymore.
Crude oil prices fell sharply and suddenly, with oil at $90 a barrel for the first time in almost eight weeks. The Energy Department said total US Fuel use decreased 1.1 percent in the four weeks endedSeptember 21st. It is very likely that the price of crude oil will continue to decline because for the first time in a decade, supply is exceeding demand………………………………………..Full Article: Source


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This post was written by:

VRS - who has written 39533 posts on Opalesque Commodities Briefing.


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