For Japan prices on oil received from Persian gulf on long term contracts reached nine year highest level

/IRBIS, March 10, 00/ - PRIME-TASS informs, with the reference to ITAR- TASS, that for Japanese companies prices on oil received from the countries of Persian gulf on long term contracts reached the nine year highest level. The sources at Tokyo commodity exchange say prices have been growing for 4 months already and they have increased about 2.5 times relative to similar period of last year. Barrel of Saudi Arabian oil costs more than $25 on long term contracts, which was increased due to the situation on free market where the prices exceed $30 per barrel. Demand for oil is steadily growing in Asia as the conjuncture is good in China and as the most of the countries in South-East Asia are getting out of financial crisis.