The crude oil prices have once again gone to 59 dollars level today, due to latest set of weak economic data. The US consumer confidence index had surprisingly gone down last month, while the Obama administration is said to be considering another bout of stimulus spends.
Then there were reports of continued fall in US imports from other countries for a straight eighth month in a row which is not good for the rest of the world.
All these are bad indicators for an already weak US economy, which is the anchor for the entire globe.
And the first casualty for any US negative news is crude oil, which is now down to a new four month low of 59 dollars today.