Home / Knowledge / News / Textiles / Crude oil prices dip on reports of high US unemployment figures
Crude oil prices dip on reports of high US unemployment figures
12
Jan '09
The prices of oil once more moved southwards to nearly touch US $40 per barrel last week after having hit a five week high, earlier in the week. The fall is attributed by analysts to the possibility of a slowdown in demand, due to the effects of the global recession.

February deliveries were quoted at $41.44 on January 8, after having scaled the $50 per barrel mark just two days earlier. Prices of crude oil started their fall on January 7, on reports of higher US crude reserves and fell by 12.25 percent from its previous day closing.

Prices fell further the next day when the US government released a report on unemployment figures which have peaked to a 26 year high and could mean a fall in demand from the world's largest consumer of oil. Experts though believe that there is still potential for oil prices to regain the ground lost in the last week.

Fibre2fashion News Desk - India


Must ReadView All

Courtesy: European Commission/European Union

Textiles | On 26th May 2018

EU set to negotiate FTAs with Australia & New Zealand

The European Union is all set to begin negotiations for free trade...

US bans import of cotton goods from Turkmenistan

Textiles | On 26th May 2018

US bans import of cotton goods from Turkmenistan

The US Customs and Border Protection (CBP) has issued a Withhold...

FPCCI prepares report on Pakistan's export issues

Textiles | On 26th May 2018

FPCCI prepares report on Pakistan's export issues

Federation of Pakistan Chambers of Commerce and Industry (FPCCI)’s...

Interviews View All

Binoy Ravjani
Hero's Fashion

‘One of the recent trends in hand block printing is the indigo process,...

Anvita Mehra
Confidential Couture

‘It is going to take some time for Indian buyers to get accustomed to...

Sanjay Yagnik
Maa Tex Speciality

‘We suggest reducing dosage of sizing chemicals to reduce sludge...

Apurva Kothari

No Nasties was the first fashion brand in India to make 100 per cent...

Kalai Selvi

Vidyashilp Academy in Bengaluru is the country's first Fairtrade School....

Tom Adeyoola

Describing itself as the best body shape and garment fit company in the...

Ashok Desai
Bombay Textile Research Association

Bombay Textile Research Association (BTRA) is a leading name in textile...

Kai Poehler
Voith Paper GmbH & Co. KG

The glass mat industry is growing by five to eight per cent annually. Kai...

Kerem Durdag
Biovation II LLC

Kerem Durdag, CEO, Biovation II LLC, provides an insight into future...

Madhu Jain
Madhu Jain

She grew up in the walled city of Old Delhi, completed her studies, and...

Priya Somaiya
Usha Social Services

The Usha Silai label from Usha International is all set for a retail...

Anisha Chaudhari
Threads & Shirts

Threads & Shirts is a freshly-tailored concept providing men/women a...

Press Release

Press Release

Letter to Editor

Letter to Editor

RSS Feed

RSS Feed

Submit your press release on


editorial@fibre2fashion.com

Letter To Editor






(Max. 8000 char.)

Search Companies





SEARCH

Leave your Comments


May 2018

Subscribe today and get the latest update on Textiles, Fashion, Apparel and so on.

news category


Related Categories:

Advanced Search