OIL DROPPED IN PRICE SIGNIFICANTLY
Prices of oil futures have dropped markedly on May 3, which was caused by the presence of a record from May 2002 commercial crude oil inventories in the U.S. and a slowdown in Western economies. Light Sweet crude oil price per day fell by 2.8% and for the first 11 weeks of closed below $ 50 a barrel. Brent oil price fell by 1.1% and for the first two weeks of closed below $ 51 a barrel. So says the ID #39;Oil and Capital#39;.
The results of trading in futures contracts on May 3 next months are as follows: - in New York on the New York Mercantile Exchange (NYMEX) official price of Texas crude oil WTI / Light Sweet (June) fell 42 cents to $ 1 and set at around $ 49.50 per barrel (the lowest closing price since February 18, 2005.) with a range of quotations for the session $ 49,30-51,01 per barrel - in London at the International Petroleum Exchange (IPE) official price of North Sea oil mix Brent (June) dropped by 57 cents and set at around $ 50.52 per barrel (the lowest closing price since April 13, 2005.) with a range of quotations for the session $ 50,45-51,80 per barrel. Organized on NYMEX trading floor in Dublin oil futures Brent (June) also traded lower, but closed at 5 cents higher than in London. So, its official price of $ 50.57 (-0.43) per barrel in the prices of transactions $ 50,50-51,65 per barrel, informs a source.
