Crude Oil remains under pressure ahead of OPEC meeting
Crude oil continued its decline below $60 per barrel on the Asian trade Thursday, despite the decrease of the U.S. crude oil inventories and the dropping of the greenback which should push the oil prices to recover. However, the oil prices remained under pressure as investors are monitoring cautiously the outcomes of the OPEC meeting due on Friday June 5th 2015. With increasing concerns that it will maintain its current production and this could accelerate the sell-off by speculators.
Posted by MBCFX