Crude Oil Falls On Growth Outlook –

Crude oil fell $1.23 and closed at $86.65 a barrel.  The weak economic outlook has lowered demand forecasts in a market that is already well supplied.  In addition, GDP for European zone economies only grew .2% in the second quarter.  The U.S. Dollar also increased in trading which sent the price of crude lower today. 

To read a related MarketWatch article, please click here:

http://www.marketwatch.com/story/oil-futures-fall-as-dollar-strengthens-2011-08-15?link=MW_home_latest_news

James Sutliff

This entry was posted in Banking, Economic News, General, Investments, Oil, Options & Futures, Trading. Bookmark the permalink.