Why crude prices have crashed ?
Posted by admin . Published on 10 December 2009, Received
Crude oil prices ruled near 2009 high last month when they hit over 80 dollars a barrel. But in the last two weeks the prices have crashed to 71 dollars a barrel level, thanks to negative remarks from Ben Bernanke about the US economic recovery.
Also reports of lower global demand for crude oil due to the ongoing Dubai / Sweden / Greece crises added to the selling pressure. Experts fear that the crude oil prices may go down below 70 dollars if there are more negative signs from US or Europe.
