Oil : 200 $ to 25 $

In this financial meltdown one commodities which is greatly hit is the Oil. During mid year, analyst involved in Oil and other commodity research pointed out that Oil will reach 200$ mark by ear end. But as the year approaches to an end, scenario is totally changed. Now the same commodity is trading below 50 $ mark and some analyst are predicting the it may fall in the range of 25-30 $ mark.

But the question is why there is a pendulum shift in the Oil prices? Is it the speculators who brought the Oil prices at that level ? Or is the speculators now who are bringing the oil level in submissive level. So certainly seems that economic parameters of demand and supply did not fit in determining the price of the oil, rather it was traders who won the race. This may be applicable for other commodities also, but certainly it fit well for Oil.

Lets see at what level the Oil will go in the coming week.

Thanks&Regards,
Mohit