MARKET RECAP Crude oil prices declined marginally and continued to trade sideways yesterday as the dollar stood firm and concerns that fuel demand may stall in US which is the largest consumer of energy. Markets remain concerned over the demand situation of crude oil amid concerns over global economic progress. Oil prices could continue to face downside pressure as poor fundamentals coupled with concern over global economic recovery could add pressure on the downside. The Chinese New Year in the coming week would pressurize the prices as weak demand is usually seen during this time of the year. Further if concern over debt situation in the Eurozone continues to dominate financial markets then demand for riskier investment assets could decrease, leading to downside pressure on crude oil prices.

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