Oil Falls Again. Going to 50 USD/ Barrel?

Friday, October 9, 2009

Oil prices fell early today to the lowest level since early 2007. Oil traders are concerned about the economic outlook and demand for energy.

On the NYMEX electronic trading session Light Sweet Crude fell to 57,90 USD a barrel, the lowest price since March 20th 2007, a 20 month low.

Is it a buy here? Jim Rogers said last week on Bloomberg that he was buying and several oil traders are talking about supply constrains going forward.

But sentiment, at least for now is negative. Is 50 dollar oil on the horizon?


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