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Archive | June 2nd, 2010

Price of crude oil started the new month with decrease

Cruide oil platformThe crude oil price started running down months, which was caused by weak economic indicators for the eurozone and China. They gave new strength to the speculation that the recovery of global economy from the crisis is slowing. During yesterday’s trading session in New York oil price with delivery in July fell 1.9 percent to 72.58 dollars a barrel. At a certain point of black gold trade was moving with a decline of more than 3 percent as analysts said the main reason for this data were to fall in the PMI index for China May. This morning oil lost another 0.35 per cent to 72.24 per cent, even at night to travel with a decline of over 1 per cent. Thus black gold continues its series of negative, which in May remove 14 percent of its value. Among the key to oil market news was the failure of BP’s shares, which yesterday reported its strongest decline in the past 18 years. They dropped by 13 per cent to 4,3 pounds after the number of forecasts for the cost of cleaning up after the Gulf of Mexico oil platform accident with the company there. Yesterday in London, Brent crude from oil fell 2.6 percent to 72.71 dollars a barrel.
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