MoneyControl: Oil prices to weaken further

Oil prices are set to soften further this week after data showed a slowdown in business activity from Europe to the US and China reflecting continued deterioration in the global economy, according to CNBC's weekly survey of oil market sentiment.

Lower commodity prices are a “silver lining” keeping inflation tame and offering central banks room to ease policy, said Dominic Rossi, Global CIO, Equities at Fidelity Worldwide Investment told 'Squawk Box' on Wednesday.

Lower prices at the pump may provide a boost for demand this summer driving season in the US though it’s doubtful it'll be enough to have a lasting impact on prices when macro-economic concerns continue to weigh. [ News Source ]

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