Oil Prices Continues Decline as Gaza and Energy Dispute Prolong

Oil Prices Continues Decline as Gaza and Energy Dispute Prolong

09 January 2009 @ 06:23 am EDT

Oil prices stabilized from sharp losses suffered during the middle of yesterday's trading session. The reasons this occurred was due to ongoing concerns about the deterioration in the U.S. labor market. This led prices to fall over $2 to $40.50 a barrel during the middle of yesterday's trading session. The recovery later-on, which led prices to close slightly down 30 pips to 42.37 on Thursday, was due to the prolonged conflict in Gaza and the Russia-Ukraine gas dispute returning to the minds of investors.

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