Oil may fall below $100 a barrel

This is fantastic! I read this at The Times of India. They made a bold projection that global crude oil prices are on a downward spiral and analysts said that the price could slip below US$100 per barrel mark by next month. The article says, Oil will fall below $100 a barrel“.

The analyst said that global demand for oil is expected to come down as major economies like US have hiked interest rates to contain inflation, adding that a similar situation prevails in China as well as India.

Even in the US it is reported that Oil prices finished at a new three-month low Monday after briefly dropping below $113 a barrel mark, as the dollar extended its rebound and more signs emerged that China’s energy demand could be leveling off.

See the Latest Crude Oil Price chart here.

So if this happen, then we will see whether the government will review the fuel prices to us consumers.Another factor was the significant rise in the value of the US dollar against major currencies – the sharply rising prices of crude oil and other commodities were previously cited as hedges against the falling of the US dollar.

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2 Comments so far

  1. Abhishek on August 14th, 2008

    If oil goes bellow $100 barrel then nothing best can happen

  2. roslimh on August 14th, 2008

    In Malaysia, the possibility of fuel prices going down is possible, if this happen. So it is a great benefit to us as consumers.

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