Oil prices have fallen by almost $3. Some experts think that demand may not have recovered as much as thought. Some market participants are nervous about demand on oil, because they think it will go down. For example firm Platts reported that demand for oil in China, the world's second largest consumer of oil, went down on august. "There will be little or no sustained upward pressure on oil prices until global economic recovery is firmly established and reviving oil demand begins to draw down bulging oil inventories", sad analyst from the Centre for Global Energy Studies.
West Texas Intermediate Crude Oil Futures $/barrel (21th of september)
Brent Crude Oil Futures $/barrel
This is OK but try and introduce economic concepts such as elasticity of demand and supply. See Fanny's guide:
ReplyDeletehttp://fannyseconomy.blogspot.com/2009/09/fanny-guide-to-writing-good-blog.html
Also, what about ALL the oustanding homework from the AS Economics blog????