LONDON (Reuters) -- Oil prices fell 3.2% Monday, to below $70 a barrel, as further signs of weak fuel demand raised expectations that prices may have raced ahead of the nascent economic recovery.
Oil prices have more than doubled since hitting lows near $30 a barrel at the height of the global economic crisis, but the market has come under pressure since touching a one-year high of $75 a barrel almost a month ago.
Click Here to Read More
Posted by, Meredith Anderson
I am glad that the oil is not peaking to the price it reached last summer! Though I feel the demand will slowly continue to decrease with the additions of all the other forms of energy and the go green initiative.
ReplyDeleteBy Sara Sindelar