Nearest oil futures prices plunge 2.75 % - 3.02 % on major world trading floors

/IRBIS, Dinara Mukasheva, June 10, 08/ - By the results of trades of June 9 this year: - on NYMEX (New York) the price of Light Sweet Crude Oil mixture with delivery in July 2008 decreased by 3.02 % to $134.35 per barrel; - on ICE (London) price of July Brent Forties Oseburg futures decreased by 2.75 % to $133.91 per barrel On Monday oil prices slid to initial positions falling behind June 6 record. The dollar rate grew slightly after the National Association of Realtors issued data on the condition of the US housing market - according to the report in April the index of unfinished sales of residential buildings in USA grew by 6.3 %. Despite a sudden growth on Friday, many analysts forecasted quotations reduction, referring on non-fundamental factors of the prices' growth support. The president of OPEC Shakib Khelil is repeating that oil deliveries to the world market are "sufficient", and the record prices growth is caused by weakening American currency and stressful situation around Iran. "If it is not about these two factors, the oil price would make about $70 a barrel", - Sh.Khalil, who is also the Minister of Oil in Algeria noted. - A weakening dollar is adding $40 more to the oil price", - the Bloomberg agency quoted his words. The Minister of Oil in Saudi Arabia Ali Al-Naimi agreed with Sh.Khalil, announcing that such growth of quotations is "unjustified" and is not caused by any of fundamental factors. Therefore Saudi Arabia appealed to hold an extraordinary meeting of oil producers and consumers to discuss the situation on the market of the "black gold". Analysts' opinions pressed the traders hurrying up to fix profits. The data of exchanges, published in various information systems, were used to create this message. [2008-06-10]