Oil crosses USD 140 for first time
Oil prices crossed 140 dollars a barrel for the first time in New York and London on Thursday, AFP reported.
Friday, 27.06.2008.
13:21
Oil prices crossed 140 dollars a barrel for the first time in New York and London on Thursday, AFP reported. In New York light sweet crude was up USD 5.50 to USD 140.05 dollars per barrel. Oil crosses USD 140 for first time In London, Brent North Sea crude jumped USD 6.05 to USD 140.38. The price of crude oil shot up on the new dollar weakness, which makes the dollar-denominated commodity cheaper for buyers using stronger currencies, the agency said. AFP also quotes analysts who said lower U.S. interest rates, compared ton the eurozone, were making the euro more attractive to investors than the dollar. At the same time, Algerian Energy Minister Chakib Khelil, who is OPEC president, said crude could reach USD 170 this year "owing to a weak U.S. currency and geopolitical unrest". In Serbia, the latest fuel price hike that came as a result of these global trends came into effect last week. The government will decide in a fortnight whether to once again increase the prices of gasoline and other oil derivatives.
Oil crosses USD 140 for first time
In London, Brent North Sea crude jumped USD 6.05 to USD 140.38.The price of crude oil shot up on the new dollar weakness, which makes the dollar-denominated commodity cheaper for buyers using stronger currencies, the agency said.
AFP also quotes analysts who said lower U.S. interest rates, compared ton the eurozone, were making the euro more attractive to investors than the dollar.
At the same time, Algerian Energy Minister Chakib Khelil, who is OPEC president, said crude could reach USD 170 this year "owing to a weak U.S. currency and geopolitical unrest".
In Serbia, the latest fuel price hike that came as a result of these global trends came into effect last week.
The government will decide in a fortnight whether to once again increase the prices of gasoline and other oil derivatives.
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