Excerpt from: GFT Analysts in the News
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| November 20, 2008 | | Oil futures continue to slide | The slide of oil futures continues today. Oil prices have dipped below $50 a barrel, something not seen since January of 2007 -- nearly two years ago. (Funny how petrol prices aren't back at those levels, though.)
Worries about demand continue to pummel oil prices as a global recession is resulting in many countries and individuals cutting back. This move is especially pronounced in developing nations.
Developing nations have been expected to provide much of the demand for oil, but the global recession has been a setback to development.
| Topic Tags: commodities trading, developing nations, futures trading, global recession, oil futures, oil prices, spread bets oil, spread betting commodities | |
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