Nearest oil futures prices surge by 7.60 % - 8.59 % on major world trading floors

30.10.08 15:20
/IRBIS, Dinara Mukasheva, October 30, 08/ - By the results of trades of October 29 this year: - on NYMEX (New York) the price of Light Sweet Crude Oil mixture with delivery in December 2008 increased by 7.60 % to $67.50 per barrel; - on ICE (London) price of December Brent Forties Oseburg futures grew by 8.59 % to $65.47 per barrel Oil sharply grew on investors` optimism that the USA FRS Committee for Open Market Transaction decreased the interest rate on federal funds down to 1.0 %. FRS also decreased the discount rate to 1.25 % The other factor supporting the growth was announcement of the USA Ministry of Energy on oil reserves increasing by 500 th. barrels to 311.9 m. barrels and petrol reserves decreasing by 1.5 m. barrels to 195 m. barrels over the week. Earlier analysts expected oil reserves to grow by 1.3 m. barrels, petrol - by 1.2 m. barrels. The data of exchanges, published in various information systems, have been used to create this message. [2008-10-30]