|
|
THURSDAY NOVEMBER 13
Snap! Oil Tumbles Below $55 A Barrel Crude oil futures take yet another nosedive, as the International Energy Agency slashes demand forecasts for this year and next, shifting its price expectation for 2009 to $80 from $110. The primary reason: the world’s developed economies, it says, will be unable to avoid recession and their growth is on course to contract by at least 0.2%, marking the first pullback of that size since WWII. But, of course, the forecast – like every forecast – has a wild card: China. November 2008New User?Sign up to get free access to TraderDaily.com
|
|