According to Reuters, yesterday the price of the US light crude oil declined by $3.45 down to $83.44/b. The main reason was the USA’s rating cut by Standard & Poor's.
Crude oil is losing its value under the pressure of the eurozone’s escalating debt crisis. The experts are concerned that this can reduce the demand for crude oil.
Some experts from London & Capital say that investors are going to be risk-averse and turning to gold as a safe haven asset.
According to the Department of FMA-Sar, , crude oil updated the local low and headed for $80.40/b and $79.20/b.
Crude oil prices will stay under pressure as long as there are negative news releases on the US.
