World Oil Prices Decline on European Debt Crisis

March 28, 2011
The price of oil on world commodity exchanges was falling Monday morning investor fears that the debt crisis in Europe would reduce demand for fuel in the region.

The price of a May futures contract for WTI light sweet crude in electronic trading on Nymex was down 40 cents to $105.09 a barrel by 8:15 Moscow time. The price of a May futures contract for North Sea Brent blend was off 11 cents to $115.48 in London.

Oil prices had fallen last Friday as well with May WTI contracts off 20 cents to $105.49 a barrel and May Brent contracts off 13 cents to $115.59 per barrel.

Copyright 2011, Golos Rossii. All rights reserved.