Oil prices fall below 113 dollars!

Oil prices fall below 113 dollars!
Aug 12, 2008 04:49
DREAMLIFE Points: Join Date: Sep 5, 2007 Status: offline	On August 8th, the crude oil pirces in NYMEX fell 5 dollars to 115.2 dollars. Compared with the record of 147 dollars in July, it has fallen by 20 percent. On Monday, it continued to fall, falling to 113.41 per barrel in NYMEX after dipping as low as 112.72 dollars, which was the lowest level since May. Inspired by the oil decrease, many analysts believe the surging oil prices will come to the end and the speculative bubble in oil prices will burst very soon. According to them, there are many factors that have caused the oil prices surging quickly. The main factor is the global economic downturn. Slow economic growth has caused a great impact on the energy consumption. These developing countries in Asia have decreased their need of crude oil. On the other hand, the rebounce of US dollar has also contributed to the falling oil prices. Last week, the dollar had ended its three-year downturn. No doubt, it is good news. Some analysts have taken the falling oil prices as a sign of the end of surging oil prices. They even predict that the oil prices have become bearish (Just like Chinese stock market). Do you agree? The era of low fuel prices will come again?

Aug 12, 2008 04:49

DREAMLIFE
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Join Date: Sep 5, 2007
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On August 8th, the crude oil pirces in NYMEX fell 5 dollars to 115.2 dollars. Compared with the record of 147 dollars in July, it has fallen by 20 percent. On Monday, it continued to fall, falling to 113.41 per barrel in NYMEX after dipping as low as 112.72 dollars, which was the lowest level since May.

Inspired by the oil decrease, many analysts believe the surging oil prices will come to the end and the speculative bubble in oil prices will burst very soon. According to them, there are many factors that have caused the oil prices surging quickly. The main factor is the global economic downturn. Slow economic growth has caused a great impact on the energy consumption. These developing countries in Asia have decreased their need of crude oil. On the other hand, the rebounce of US dollar has also contributed to the falling oil prices. Last week, the dollar had ended its three-year downturn. No doubt, it is good news.

Some analysts have taken the falling oil prices as a sign of the end of surging oil prices. They even predict that the oil prices have become bearish (Just like Chinese stock market). Do you agree? The era of low fuel prices will come again?

Aug 12, 2008 18:25	#1
SHESGOTTOBE Points: Join Date: Nov 23, 2007 Status: Offline	That's great. I can feel this at the pump. Finally, gas is $3.58 per gallon as of today in Ohio compared to $4.10 last month. I hope the falling price will continue.

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