Excerpt from: GFT Analysts in the News
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| December 30, 2008 | | Oil futures falter and fall back below $40 a barrel | Oil prices have started falling again as the global economy trumps geopolitical turmoil. Right now, with expectations of U.S. gasoline stockpiles growing, and with the threat that the global recession will continue to stymie demand, oil futures are falling.
Indeed, even continuing Mideast violence between Israel and Gaza, and eminent production cuts by OPEC nations, can't keep oil prices above $40 a barrel. Bloomberg reports on oil futures:
“With most global economies struggling and credit markets
still in an impaired state, it is hard to get too excited about
the upside potential in energy markets attributable solely to
geopolitical factors,” Edward Meir, an analyst at MF Global
Ltd. in Connecticut, said in a note today. | Topic Tags: futures trading, Israel Gaza, oil futures, oil prices, OPEC, spread bets oil, spread betting commodities | |
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