Tuesday, March 31, 2009

More bad news for oil prices...Jim Ritterbusch, president of energy consulting group Ritterbusch and Associates, said he expects oil to fall as low as $47 in advance of a U.S. crude inventory report, monthly unemployment figures and a meeting of the Group of 20 world leaders in London -- all this week. Shum said the U.S. crude report is widely expected to a show further build up in inventories, which will exert more downward pressure on prices.

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