Oil seen falling to $35: analysts

CHICAGO (Reuters) – Crude oil prices may fall to $35 a barrel by the end of 2009 on expectations for the dollar to strengthen while corn, wheat and soybeans are expected to trade near current levels, commodity analysts said on Tuesday.

Phil Flynn, senior market analyst with PFGBest’s Research, told a commodities outlook meeting at the Chicago Board of Trade, a CME Group CME.0 unit, that NYMEX crude oil could slip to $35 from $65 in the coming months if the economy and the dollar strengthen.

Reuters