Crude oil cooled down to a new low of 113 dollars a barrel few days back, due to increased fear that the demand is set to crash across all the countries, especially the guzzling countries like US, Europe, China and India. With demand set to crash, speculators are said to be unwinding faster, and this may take the price to around 100 dollars level in coming weeks, say experts.

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Russia has got into a full fledged bombing of Ossettia town which is part of Georgia. Georgia government has , of late, been seen closer to US which has irked Russia. With the revolt by revolutionary forces supported by Russia being resisted by Georgia, Russia has found a easy excuse to start barging into Georgian town through force. UN has requested Russia to withdraw its attack, since Georgia has already announced pull back of its troops out of Ossettia town.