A spike in oil prices by over $11 in US markets Last Friday, Dow recording its worst fall in a year.
The Dow Jones industrial lost 395 points, or 3.1%, its biggest one-day decline since February of 2007.The broader S&P500 index lost 3.1%, while the Nasdaq lost 3%. The S&P and Nasdaq witnessed their biggest declines in four months.

Fears that the US economy is in recession seem to be getting confirmed with Unemployment rate rising to a 20-year-high to 5.5% in May from 5.0% in April.

Morgan Stanley had circulated a note that stated oil could hit $150 a barrel by July 4.

On Monday if Sensex Break Below 15295 Next tgt Around 14778.