218051 Resource 133514 120646 120646 1226499000132 1226499000132 Controlled Oil Prices Continue Descent

Oil futures move lower in commodities trading

<font size="2"><span style="font-family: verdana,arial,helvetica,sans-serif;">Oil prices continue to move lower today in commodities trading. Yesterday, <a href="item/217969" target="_blank" title="oil prices, oil futures, commodities trading, futures trading, spread bets oil prices, spread betting commodities, global recession, oil demand">oil prices moved solidly below the $60</a> a barrel mark, and today oil futures are heading below $59 a barrel.</span><br style="font-family: verdana,arial,helvetica,sans-serif;" /><br style="font-family: verdana,arial,helvetica,sans-serif;" /><span style="font-family: verdana,arial,helvetica,sans-serif;">Indeed, demand for oil is expected to decline as the global recession continues, reports <a href="http://money.cnn.com/2008/11/12/markets/oil.ap/index.htm" target="_blank" title="oil prices, oil futures, commodities trading, futures trading, spread bets oil prices, spread betting commodities, global recession, oil demand">CNN Money</a>:</span><br style="font-family: verdana,arial,helvetica,sans-serif;" /><br style="font-family: verdana,arial,helvetica,sans-serif;" /></font><div style="margin-left: 40px; font-family: verdana,arial,helvetica,sans-serif;"><font size="2">&quot;We have a pretty good idea that global growth is going to be pretty awful next year and probably not much better in 2010,&quot; said Mark Pervan, senior commodity strategist with ANZ Bank in Melbourne. &quot;There was clearly a bubble scenario in all commodities and that bubble has burst.&quot;<br /></font></div><font size="2"><br style="font-family: verdana,arial,helvetica,sans-serif;" /><span style="font-family: verdana,arial,helvetica,sans-serif;">Despite this setback, however, oil prices are expected to rebound at some point. A <a href="http://www.thestreet.com/story/10447373/1/iea-warns-of-energy-supply-crunch.html?puc=_tscrss" target="_blank" title="oil prices, oil futures, commodities trading, futures trading, spread bets oil prices, spread betting commodities, global recession, oil demand">supply crunch is expected by the International Energy Agency</a>, with predictions for seriously expensive oil by the year 2030.</span></font><br /> 9 application/xml false commodities trading futures trading global recession oil demand oil futures oil prices spread bets oil prices spread betting commodities Futures trading with GFT http://www.gftfutures.com Spread betting on commodities http://www.gftuk.com/land/index.asp?aid=53 Mozilla/5.0 (Macintosh; U; Intel Mac OS X 10.5; en-US; rv:1.9.0.3) Gecko/2008092414 Firefox/3.0.3 127.0.0.1 127.0.0.1 mmarquit 66.182.71.19 false true false false true 133514 blog blogsite/GFTUK/web