A new tendency of the world oil market
12 January 2007The world prices for oil are continuing to fall. The price of oil of the Brent mark at the London International oil stock exchange made $53,28 for barrel, what is more than on 40 cents less than the price of Wednesday which has made $53,69. The prices for oil in the USA are shoving the same tendency.
The decrease in the world prices for hydro carbonic raw materials is connected with a warm winter and a growth of oil stocks in storehouses of the largest world consumer of oil - the USA.
Besides, in opinion of experts, the decrease of the pressure in the oil market could be affected by the resolution of the conflict between Russia and Belarus around the deliveries of oil to the Western Europe by oil pipeline ″Friendship″.
Now the prices for oil have reached the minimum for last 19 months, since June, 2005.
- Russia and ОPEC are introducing euro payments (Oil exporters reduce dollar accumulations)
- China stocks are overheating
- The stagnation of Chinese economy threatens with decrease in the world prices for oil and metals
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