Commodity Daily News

Crude Oil Prices Expected to Dip

After a couple days of trading around the $41 price range, the price of Crude Oil appears to be preparing for a week of downward movement. Recent recessionary fears carry the potential to push the price of this commodity below $40 a barrel for the first time since March contracts began trading. A few Middle Eastern oil producers have downgraded their growth forecasts as a result of declining prices, as well as speculation of a continuation of these downward price trends.

News surrounding the price of Crude Oil doesn't appear to be providing much information that hasn't already been stated time and time again by many analysts. The global recession still holds full sway over commodity prices. This growth slump maintains downward pressure on the price of Crude Oil, and will continue to do so into the near future.