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International Oil Prices Breaks 28 Dollars Line.

Posted April. 04, 2002 08:52,   


The prices of crude petroleum in New York futures market showed sudden increase once on 2nd as Middle East situation worsened; therefore the prices for delivery in May broke 28 dollars once again.

The prices of crude oil in May increased one dollar per barrel than previous market close and exceeded 28 dollars line for the first time since last September and finally settled down at 27.71 dollars.

The U.S petroleum association stated that stock of crude oil and gasoline for car has been increased, however, refined oil including diesel and heat oil has been decreased.

In London market on 2nd prices of Brent oil from North Sea for May closed at 27.66 U.S dollars, which is an increase of 1.74 dollar per barrel.

Analysts said that sudden demand of refinery companies, increased in speculative buying, and worsening of Middle East situation stirred up sudden increase in oil prices.