The crude oil prices which were hovering above the 50 dollars mark for the last few trading sessions, crashed by over two dollars today, to reach the 49 dollar mark. Seasoned analysts tracking the crude oil prices for decades, say that due to the very weak global demand, crude oil prices will continue to be weak.
They opine that the crude prices will remain in the 40 dollars to 60 dollars band for the next few months, until we get more clear indications on the global recovery.