Market tumbles after more gains
In the last few days prices have fallen all but eliminating recent gains over the last few weeks. The market still has plenty room to fall as it’s still 15% higher than the average prices over Dec/Jan/Feb however as with all markets there is the possibility for the prices to rise further so this aught to be taken into consideration. Certainly the current report should provide some comfort as prices have fallen in recent days and are now back at the same level they were during April.
Oil is now trading at $112 down 5% over the last 3 days.
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Energy Market Intelligence – mid June 2011
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