03.11.2008 17:40

Crude oil prices under pressure as markets react to headlines to investment banks downgrading year-end oil price targets.

SocGen expect oil prices to averaage $55.00/barrel in December and Goldman Sachs now see downside risks to the $70.00 year-end oil forecast given slowdown in emerging markets.
WTI Nymex crude oil hit fresh session low at $65.25, down $2.56 as Dollar trade weighted index rises to 85.87.