Stock Markets Trends Dictate Crude Oil Prices
Posted on 23. Feb, 2009 by admin in Crude Oil
Crude Oil is continuing to trade around $40 a barrel. It appears that investors have correlated their investment on Crude Oil with the leading global stock markets. As long as the leading economies will continue to deliver worrying news that will damage equity markets, Crude Oil will probably retain its low price level.
In addition, Oil consumption predictions for this year are decreasing over and over again in light of the deepening global recession, and rumors that OPEC will decide to make another production cut has been circling once again.
This week traders should follow very carefully after data from the leading stock markets as they have proved to dictate Crude Oil prices lately.
