06/08/2007

Oil Falls

A small hope remains that the crude prices will invert for some time and remain around the $70.88 a barrel…. Lets hope so.

Crude oil fell the most in almost four months, on concern the U.S. economy will slow. Oil prices have dropped from the record $78.77 reached on Aug. 1 amid declines in U.S. stocks. Crude oil for September delivery declined, to $72.88 a barrel.

Brent crude oil for September dropped to $72.20 a barrel. OPEC Production Oil demand may decline as OPEC output rises. Production by the group climbed last month by the most since September 2004. OPEC ministers are scheduled to hold a conference on Sept. 11 in Vienna.. The group is unlikely to increase crude oil production before its scheduled meeting,

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1 comment:

JC said...

Well lets hope that this is correct the petrol prices keep going up and up...all we see is the petrol companies having bigger profits all the time...keep up the good work.
JPC.

12:15 am

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