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Commodities Briefing - Categorized | Oil, Price Watch more

Oil prices risk tumbling further in 2009

Posted on 29 December 2008

From Business.inquirer.net: Oil prices, which hit record highs above $147 a barrel this year before plunging under $33, risk slumping more in 2009 as recession curbs the world’s appetite for energy, analysts say.

“We expect oil prices in early 2009 to remain under pressure given the weakening demand outlook and as global economies continue to slow,” said Nimit Khamar, analyst at the Sucden brokerage in London….. Full Article: Source


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