It is obvious that the price of Crude oil closely follows the fluctuations of the stock-market, the USDollars and in general the perception of global economy outlook.
The US Presidential election had ended and the joy in celebration for the new President-elect in the stock exchange also ended, as the market come back into reality. Will Obama be able to make changes as promised? Will his view of the economy be distinct from his past predecessors?
Yesterday's plunge in the stock exchange all over the world compelled the crude oil price to USD60/barrel. Are we seeing the price to remain at this level?
The main issue now is that the demand for oil has reduced so much as the major import countries are more concern in rehabilitating their dwindling economic trend.
Could the coming winter create demand for the black gold? Very difficult to gauge. Most probabilities major user countries like US and China may have already piled up their inventories when the market was pushing to record high in reaction to stock-up before the price goes above USD200/barrel.
In Malaysia are we seeing the retail fuel price revert to pre-June 2008 hike? It should be lower than RM1.92/litre, last year the crude oil price was hovering around this level or probably lower.
The US Presidential election had ended and the joy in celebration for the new President-elect in the stock exchange also ended, as the market come back into reality. Will Obama be able to make changes as promised? Will his view of the economy be distinct from his past predecessors?
Yesterday's plunge in the stock exchange all over the world compelled the crude oil price to USD60/barrel. Are we seeing the price to remain at this level?
The main issue now is that the demand for oil has reduced so much as the major import countries are more concern in rehabilitating their dwindling economic trend.
Could the coming winter create demand for the black gold? Very difficult to gauge. Most probabilities major user countries like US and China may have already piled up their inventories when the market was pushing to record high in reaction to stock-up before the price goes above USD200/barrel.
In Malaysia are we seeing the retail fuel price revert to pre-June 2008 hike? It should be lower than RM1.92/litre, last year the crude oil price was hovering around this level or probably lower.
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