Nearest oil futures prices surge by 1.59 % - 2.22% on major world trading floors

/IRBIS, Dinara Mukasheva, May 21, 08/ - By the results of trades of May 20 this year: - on NYMEX (New York) the price of Light Sweet Crude Oil mixture with delivery in June 2008 increased by 1.59 % to $129.07 per barrel; - on ICE (London) price of July Brent Forties Oseburg futures increased by 2.22 % to $127.84 per barrel Oil prices set new records again. The main factors of trend movement remained unchanged; the market is mainly influenced by analysts expecting further quotations growth. Though, oil market observers claim there are no fundamental reasons for prices increase (there is no oil deficit and oil demand increase), the market is moved by speculative demand of traders. The analysts, sensing the market moods, increase forecasts on price of "black gold". Credit Suisse`s analysts consider that average price of oil barrel in the current year will make $120, next year - $110 (earlier the forecasts were $91 and $90 correspondently) In addition, traders keep on playing on the China energy deficit situation. The data of exchanges, published in various information systems, were used to create this message. [2008-05-21]