Nearest oil futures prices plunge 2.16 % - 2.26 % on major world trading floors

/IRBIS, Dinara Mukasheva, June 11, 08/ - By the results of trades of June 10 this year: - on NYMEX (New York) the price of Light Sweet Crude Oil mixture with delivery in July 2008 decreased by 2.26 % to $131.31 per barrel; - on ICE (London) price of July Brent Forties Oseburg futures decreased by 2.16 % to $131.02 per barrel Oil prices continued to decrease on dollar strengthening in relation to euro and yen - the FRS USA head Ben Bernanke's announcement at the conference of the Federal reserve bank of Boston accelerated the situation. By Bernanke "the risk of serious recession decreased for last month", moreover, he assured the public that FRS "will seriously fight the erosion of long term inflation expectations". This announcement was perceived by the market as a signal of possible increase of the interest rate in the USA. From the other side, analysts' negative forecasts on decrease of the world demand for oil forced quotations to reduce. On Tuesday the international energy agency announced that the world demand for oil in 2008 will be lowest in last 6 years due to reduction of fuel subsidies in several emerging countries. The agency is forecasting that the world oil demand in 2008 will grow by 800 th. barrels a day, which is 230 th. barrels less compared with the previous forecast. The data of exchanges, published in various information systems, were used to create this message. [2008-06-11]