Is oil price bubble ready to burst?
The oil wells that spewed petro dollars are now finally giving way as crude prices fell near 8 per cent in intra day trade on Tuesday and traders are wondering if $100/bbl will hold on. According to Jason Feer, Vice President & Singapore Bureau Chief, Argus Media: "I think it's obvious that the demand in US is quiet weak. The real longer term question is how demand in India and China and some of the big emerging markets is going to hold up."
