/IRBIS, Dinara Mukasheva, March 28, 08/ - By the results of trades on March 27 of the current year:

- on NYMEX (New York) the price of Light Sweet Crude Oil mixture with delivery in May 2008 increased by 1.59% to $107.58 per barrel;

- on ICE (London) price of May Brent Forties Oseburg futures increased by 0.97% to $105.00 per barrel;

On Thursday oil prices continued to grow; the main factor is said to be the news on oil pipe line explosion in Basra (Iraq). Military actions between the government army and the rebel army Makhdi go on in the region which is the main producer of Iraqi export crude. The explosion (which was extinguished on the same day afternoon) resulted in the crude export decrease by one third.

On the other side, the market still is experiencing the influence caused by the report of the Ministry of Energy of USA dated March 26, according to which the country oil reserves, by the week ended March 21, remained unchanged (311.8 m. barrels). The expectations of the analysts (increase of reserves by 1.5 m. barrels) failed; the report proved the invariance of demand for energy resources in USA.

The data of exchanges, published in various information systems, were used here.

[2008-03-28]