Jun 8, 2011

Crude Oil Price at Asian Markets Down

Crude oil prices in electronic trade in Asia on Wednesday (8 /6) declined amiddspeculation that OPEC Will Increase production quotas at a metting in Vienna Today.
Crude oil prices posted a decline of 0.5% after a rise of 0.7%. Crude oil price movements in the trading session in Asia today is quite volatile. The decline in pricesis also affected demand for gasoline in the U.S., which dropped by 2.9% last weekcompared to the previous week.
Nymex crude futures contract for July delivery fell to a 98.60 dollars per barrel, or 49 cents weaker. On this day of crude oil prices had increased by 70 cents on the position of 99.79 dollars per barrel.

Analyst Research from Vibiz Consulting Vibiz see the possibility of oil price movements will still be likely to weaken on trade session in Asia today. Crude oilprice range for the moment still at the level of 97-104 dollars per barrel.







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