Crude price climbed aggressively by $6.03 to $121.59 a barrel on NYMEX

Just as we thought that light sweet crude has been easing, it climbed up disappointing investors further down at the Wall Street which see the Dow Jones Industrial Index in red once again. It has been a very volatile week. The trading session on 21 August 2008 is also affected by the financial worries on faltering mortgages.

But then again, we had witness for a number of past trading session how the decline in crude had brought markets back from the red to the green zone. However, this time round with crude price rocketed by a significant $6.03 to $121.59 a barrel on the New York Mercantile Exchange can be extremely detrimental for the Wall Street and also for Asian Markets following on. Crude oil price will continue to be a prevailing market direction for major stock markets as many investors will be standing along the side lines to watch how the sentiment will develop for the next few trading sessions.

The above are all personal opinions and not at all an inducement to trade.

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