Commodity Daily News

The Price of Crude Oil Dips Further

Crude Oil prices dipped slightly Monday as sentiment appeared to favor a mild downtick in global stocks following reports of monetary moves being made by several central banks. Data releases out of Europe and the US last week are still driving many investors back into safe-haven assets as many reports suggested a surprise downtick in growth among global industrial output and consumer spending.

An expected rise in dollar values due to this week's risk sensitive environment has helped many investors ram up their short-taking positions on physical assets, but with the USD's gains not materializing in large enough numbers, sentiment appears to have the price of crude oil falling mildly late Monday. Should Crude Oil sentiment continue to flatten this week, oil prices may reach a decision point which forces a wide swing by mid-week; direction is still unclear regarding the swing.