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Price of oil will not stop - marks a record after record

The price of crude oil went above 142 dollars for a barrel today as a result of sales of stock exchanges, which invested significant resource to the stock markets. After strong growth of quotations of over $ 5 in the last session of the U.S. market and today we are witnesses of slumping record of strategic raw materials.

During the exchange of electronic commerce in New York oil contracts with delivery in August rose by almost 2 per cent (2.62 dollars) to a new historic peak of 142.26 dollars for a barrel. In London also registered a new record after the quotations jump to 1.6 percent (2.3 dollars) to record so far 142.13 dollars for the barrel.

The main factors to move the price from yesterday here are speech of President OPEK that black gold could reach 170 dollars for a barrel by the end of the summer and the threat of Libya that will be reduced exports of raw materials. For strong growth and contributed the decline of exchange indixes in the world, caused by sales in the U.S. from yesterday.

After the significant decline in indexes in Asia, in the European session is a decrease of 1.2 percent for the main German index DAX, 1,43 percent in Switzerland, 0.95 percent in France, etc.

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This entry was posted on Sunday, June 29th, 2008 at 7:09 am and is filed under Business, Markets. You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.

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