It could be observed that the price of crude oil dropped nearly by 14-15% during the month of May from USD 105 per barrel to the current USD 90. However, Richard Surrmeier, the Chief Market Strategist working at ValuEngine.com, anticipates that an even further slump to USD 79 will be experienced by the end of June. Suttmeier also highlights that hurricanes as well as tropical storms are the only facilitators that might put the oil price back on track. In case if the predictions prove to be right, the new price of USD 79 would be a 30 per cent dip from the USD 110 that was recorded at the end of February.