Crude prices crashing on global slowdown

2
Want create site? Find Free WordPress Themes and plugins.

Crude prices crashing on global slowdowncrude prices crashing on global slowdown

Crude-oil prices fell on Tuesday, continuing steep overnight declines as markets struggle to grasp weakness in China and little progress in the Iranian nuclear talks and persistent oversupply in the market.

Nymex crude was down 2.6 percent, trading $51.13 a barrel in Tuesday morning trading after Monday’s 7.7 percent decline.

Worries over Greek debt and Iranian nuclear talks were the trigger for the overnight slump in oil prices, but high US inventories and supply growth outpacing demand were the more critical fundamental background issues, said analyst Tim Evans at Citi Futures.

He said the primary source of weakness in oil prices is that oil production from OPEC has been increasing over the past few months.

“This additional oil is expanding the market’s physical surplus in our view,” Evans said.

© 2015, Premium Herald. All rights reserved.

Did you find apk for android? You can find new Free Android Games and apps.
Follow us on Twitter: @Premiumherald Like us on Facebook: Premium Herald Email us your stories and suggestions on info@premiumherald.com or newstips@premiumherald.com

2 COMMENTS

  1. Oh my goodness! Amazing article dude! Thank you, However I am having troubles with your
    RSS. I don’t understand why I am unable to subscribe to it.
    Is there anybody else having similar RSS issues? Anybody who
    knows the solution can you kindly respond? Thanx!!

  2. Hi! Someone in my Myspace group shared this website with us so I came to look it over.

    I’m definitely loving the information. I’m book-marking and will
    be tweeting this to my followers! Superb blog and outstanding design.

Leave a Reply