Oil led a drop across commodity markets as gold and copper fell on concern slower economic growth will curb demand for energy and metals.
Asian and European stock markets fell the most since September 2001...These kind of declines are unprecedented so there is a lot of nervousness in the market so the outlook is for oil to continue to come down.
Crude oil for February delivery fell to $84.64 a barrel, the lowest since Dec. 6, on the New York Mercantile Exchange.
Brent crude for March settlement declined to $85 a barrel on the ICE Futures Europe exchange.
There are risks to U.S. demand, but they will be offset by growth in China and India and also once we get out of this peak demand period then perhaps oil is likely to trade between $85 and $90 a barrel in the coming weeks..
We will continue to see stock markets in a downward trend and as predicted the US economy ever deeper in recession...
SOUTH AFRICA SPRINGBOKS
South Africa laid the groundwork with traditional Springbok rugby and finished an out-gunned England side off with two late tries to win ...
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Holiday time is almost upon us so we all need to reserve a Hotel..so to avoid much walking around visi the site: http://www.hotelreservatio... -
President George W. Bussh has said he'd veto a so-called NOPEC bill passed in May by the House of Representatives, because it may limit ... -
The never ending saga of the dollar like the crude price has its causes and effects in anything and everything the real cause for both cases...
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