Crude oil prices are behaving in an erratic fashion in the last two months. Just a month back, the crude oil prices crashed to 59 dollars level on the back of negative data flow from US and Europe.
But in the last three weeks, there has been flow of good news from China, Europe, Japan and US , in terms of housing , banking and commodity consumption. All these have lead to a surge in the crude oil prices, which have touched the 70 dollars mark once again today. Traders are , cautious about the recent surge in crude oil prices, and are advising their investors to stay away from the crude oil market for the next few weeks.
Crude oil back to 70 dollars