Crude oil prices fell again

[gnutrade.satya]

Oil fell again after US inventories showed a rise and concerns over speculators influencing prices by the Saudi oil minister. The minister also indicated that OPEC may increase supply to meet demand in India and China which is growing.In a more detailed note, Jim Ritterbusch, president at Ritterbusch & Associates, wrote: "The complex is suddenly taking on a heavy feel given its inability to advance along with fresh stock market highs and a rebound in the euro. Some of today's selling appeared triggered by overnight comments from the Saudi oil minister that impliedthat additional barrels could become available to the market if demanded while at the same time, the suggestion appeared to be made that moderately lower prices would be desirable."