World Oil Prices Continue Sharp Decline

June 7, 2010
World oil prices were continuing to fall sharply on Monday morning on experts fears the financial crisis in Europe will grow worse and on news U.S job growth was less than expected. Analysts believe this means the recovery in the United States is slowing.
The price of a July futures contract for WTI light sweet crude in electronic trading on Nymex was down $2 to $69.51 a barrel by 7:00 Moscow time. The price of a July futures contract for North Sea Brent blend had dropped $1.59 to $70.50 in London.
Oil prices fell sharply on Friday, June 4. July WTI contracts had dropped $3.10 to $71.51 a barrel, while July Brent contracts were off $3.32 to $72.09 per barrel.
Copyright 2010, Golos Rossii. All rights reserved.