Earlier nowadays oil prices had traded higher, as traders were betting that that past weekend’s wintry weather would put a crimp in heating oil supplies. Since soon after, though, oil prices since turned to the downside, dipping under the psychological $90 barrier.

The main reason why oil prices have been falling nowadays? You guessed it … concerns by the health of the overall economy. Today’s concerns are a runoff of final Friday’s CPI report, which showed that inflation during the month of November was the highest that the economy had seen in the past two years. that sent the market tumbling to shut out

final week, and the bears have only continued to push down the market again nowadays.

There has been a growing fear by the past year that the U.S. economy was moving full steam ahead towards a recession. The one thing that has provided some hope was the anticipation that the Federal Reserve would be willing to continue to slash interest rates in order to fuel profitable activity and fight off any looming recession.

Continue reading Market worries push oil prices under $90

Original post by Michael Fowlkes

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