WTI oil trading flat at $85 as market volatility continues

WTI oil futures open Monday’s trading session flat near $85 a barrel as stock market volatility around the world looks set to continue this week, affecting commodity prices as investors try to anticipate how much growth may slow in the America and Europe in the second half of 2011.

Latest WTI Oil Price

US Light crude oil futures for September 2011 delivery was trading at $85.32 a barrel, 08.05 GMT this morning in electronic trading on the NYMEX.

Market Volatility

In the past two weeks, WTI oil futures have fallen about $12 a barrel. Investors are concerned about global economic growth, ongoing financial problems in Europe and signs of a slower economy in China, a huge consumer of oil and other commodities.

“The volatility has left investors a little bit shell-shocked.” said oil analyst Tom Kloza.

“The economic uncertainty is so great that basically any good news is a boost to commodities markets as well as stocks. People are just going to be watching the economic data and the stock market.” said Michael Lynch president of Strategic Energy & Economic Research.

Original post:
WTI oil trading flat at $85 as market volatility continues