The U.S. light crude oil is on track to record its biggest weekly loss for the past 10 months after the exchange rate of U.S. dollar against most major currencies rose sharply on Thursday because of concerns caused the debt crisis in Greece. They dropped the price of oil to around 77 dollars a barrel, and the index of the 30 largest and often traded U.S. companies Dow Jones IA finished yesterday’s session with a sharp drop of more than 3%, which is its biggest loss last year. In sharp drop in oil prices contributed to concerns that the debt crisis in Greece to end the fragile recovery of the global economy, which in turn would reduce demand for energy commodities. Adversely affected oil and data of the Ministry of Energy of USA, which showed that stocks of crude oil in the country have increased for the 13th time in 14 weeks, which testifies to the reduced demand. International petroleum exchange in New York for the June futures oil dropped by 2.86 dollars or 3.6 percent, to 77.11 dollars per barrel by the end of yesterday’s session. During today’s electronic trade in Asia increased their price by 4 cents to 77.20 dollars a barrel. Since the beginning of this week they fell 10.6 percent, a record decline for the last 16 months or from January 2009 onwards.
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