Oil price in May

In 1 minute, the BLS will report a number of producer price indices, icluding  the price index of crude petroleum.  Oil price in May was fluctuating around $100 per barrel. In April, the average price was closer to $110. Hence, we expect a dramatic fall in the oil price index from its current level.

Update. June 14, 14:33
As expected, the oil index has fell from 309.8 to 275.8, i.e. by ~11%. In June, this trend is extended. As we forecasted, oil price and thus the price index of motor fuel will be decreasing into 2011. It may be the cause of employment-population ratio growth and fall in the rate of unemployment. 

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