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International Oil Prices Jumps Breaks 26 Dollars.

Posted March. 30, 2002 08:39,   


International oil prices showed a bullish trend on 28th, as investors bought it aggressively before Easter holidays, and especially future prices of raw oil recorded the highest during the recent six months.

Middle level oil of May from West Texas jumped to 26.38 dollars per barrel at New York goods exchange store, and ended the market at 26.31 dollars which is a raise of 0.44 dollars than the previous day.

Therefore it broke 26-dollar line for the first time since last middle September.

Heat oil of April also recorded 0.668 dollars that is a raise of 0.017 dollars per gallon, and unleaded gasoline of April also closed the market at 0.824 dollar that is a raise of 00.44 dollar.

Brent oil of May from North Sea was bargained at 25.92 dollars that is a raise of 0.48 dollar than the previous day and it approached 26 dollar line closely, at International Petrol Exchange (IPE) in London.

Pimat energy pointed out on their report, ¡° the judgment that sign of economic recovery is becoming clear, is one of the reason for rise in raw oil prices¡°.