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Commodity Daily News
Crude Prices Fall Based on U.S. Data
Friday, 15 Jan 2010
Weak American Retail Sales figures have caused Crude Oil to fall below $80.00 a barrel in recent trading. Additionally, the most recent U.S. Unemployment figures have contributed to a drop in American oil demand, further contributing to the fall in prices
At the moment, it appears that high American Oil stockpiles combined with low demand, should keep prices down for the time being. Looking ahead, most analysts are seeing at least marginal gains in the U.S. economy. This could mean that Oil prices could make gains providing American economic indicators begin to improve.
