Clues In Possible Spike In Oil Prices Today.

Oil prices had fallen since yesterday from near $119.93 to current mid-$115 with the ending of strike in Scottish refinery and a rebound in the USD also contribute to the fall of oil prices.

These few great news did contribute to a "cheaper" price for oil and in comes the speculative segment of the market that follows the Weekly US Oil Inventory Report is due today may capture the moment and make the oil prices either even lower....or spike it up to another record.

For the spike to happen, some news about more tension in oil producing region like Nigeria or Iran can do the trick or maybe some new strikes in refinery may be the soar point. Any loss in oil production figures in the US inventory reports too may add fuel to the fire.

Well, lowering the oil prices may help keep the inflation in check but may temporary burn some commodities that move along the same "fluctuation" as oil.

My prediction is this drop in oil prices may be temporary and may spike up soon, either today or next Wednesday. (Disclaimer: I am not responsible to any loss of money, property, life in any event of you following my crystal ball prediction)

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