This is the first time I have REALLY noticed everyone is following the price of oil. When kids start talking about it, then you know its being watched like a hawk from all types of individuals and traders.
Oil is considered as the greatest trading commodity around the world. Oil and gas take more than 80% of the over all fuel market and because of intense reliability of humans on this commodity, oil and gas have even been the sole source for many disputes as well.
In recent weeks, as oil traded around $40 a barrel, the conventional wisdom among specialists was that the price decline that began last summer was largely over.
OIL prices fell for a second straight day on Tuesday on fears that the outbreak of swine flu would delay an economic recovery and further dampen energy demand.
SINGAPORE- OIL prices fell below $50 a barrel on Monday in Asia as investors braced for a slew of U.S. corporate earnings reports this week that could temper optimism about global economic recovery.
simpy
