The crude oil prices were at the receiving end yesterday, with the prices crashing by nearly 6% in a single trading session. The day started at over 76 dollars and massive unwinding by speculators due to the European crisis, lead to massive crash in prices.
The prices were seen over 6% down during the last one hour of trade, and with the European crisis yet to come out totally, people are skeptical on any big recovery in the prices in the immediate term.