The Crude Oil prices dropped due to rising concerns over the delaying economic recovery in United States. The U.S. reports on manufacturing, unemployment, home sales and construction spending are very disappointing & have contributed to fall in Crude prices.
The crude prices today fell to $ 72.05 from $79.38 a barrel on Monday. The slowdown in Chinese & United States are impacting the demand for crude oil, China & United States being one of the largest crude oil consumers. The investors are not forecasting any positive trend as they are expecting the US Non Farm Employment data to be negative.
Also the Crude Oil futures slide by 3.5 percent reaching a three week low. The Crude Future for August delivery was trading at $ 72.95 per barrel on the New York Mercantile Exchange. The August future were quoted at $ 75.63 per barrel yesterday.
The crude prices today fell to $ 72.05 from $79.38 a barrel on Monday. The slowdown in Chinese & United States are impacting the demand for crude oil, China & United States being one of the largest crude oil consumers. The investors are not forecasting any positive trend as they are expecting the US Non Farm Employment data to be negative.
Also the Crude Oil futures slide by 3.5 percent reaching a three week low. The Crude Future for August delivery was trading at $ 72.95 per barrel on the New York Mercantile Exchange. The August future were quoted at $ 75.63 per barrel yesterday.
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