Malaysian crude palm oil prices may fall about seven per cent to 2,575 ringgits a tonne in the quarter ending December, if Brent crude oil prices fall to $95 a barrel. “I am bearish on crude oil prices. They should come down. Demand is slowing due to a slowdown in the global economy,” James Fry, chairman of commodities consultancy LMC International, said at the Globoil India conference here. “Eventually, new supplies (deep sea, tar sands and shale oil) and weak demand growth, led by substitution by natural gas, would pull the market back to earth, as oil stocks climb,” he added.
|Gold Rate in Chennai||Rs. 28600.00 (0.92%)|
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