Crude Oil Prices Exceed $113 Per Barrel

Oil price in New York rises above 113 U.S. dollars
www.chinaview.cn 2008-04-15 20:06:31
NEW YORK, April 15 (Xinhua) --

The price of New York crude oil rose to a record high of 113.09 U.S. dollars a barrel Tuesday.
Editor: Jiang Yuxia

OPEC weekly oil price hits new record high
www.chinaview.cn 2008-04-14 21:22:40
VIENNA, April 14 (Xinhua) --

The weekly average oil price of the Organization of Petroleum Exporting Countries (OPEC) hit a new record high of 102.57 U.S. dollars per barrel (dpb) last week, the Vienna-based cartel said Monday.
    The price was 1.23 U.S. dollars higher than the last recorded 101.34 dpb in the second week of March.
    It reversed a three-week downward trend, which saw weekly average prices at 99.40 dpb in the third week of March, 98.24 dpb the following week and 97.62 dpb in the first week of April.
    The head of OPEC's Petroleum Market Analysis Department, Mohammad Alipour-Jeddi, said last Saturday that global oil demand would soften in the upcoming months.
    He insisted that the market was well-supplied and the warming weather as well as the negative effect of the high oil prices would lead to a fall in demand.
    Experts, however, still point out that prices will keep rising mainly due to the weak dollar.
Editor: An Lu

OPEC daily prices surpass $104
www.chinaview.cn 2008-04-15 19:01:39
VIENNA, April 15 (Xinhua) --

The daily average oil prices of the Organization of Petroleum Exporting Countries (OPEC) surpassed104 U.S. dollars per barrel (dpb) for the first time and set a new record of 104.02 dpb on Monday, the Vienna-based cartel announced on Tuesday.
    The previous record of 103.74 dpb was set on April 10. After one day's slight retreat to 103. 67 on Friday, the prices rose without hesitation on the first trading day of this week and surpassed 104 dollars.
    Experts said the soaring oil prices were mainly driven by large amount of speculation.
    Meanwhile, oil prices in the United States rose to 110.75 dpb on Monday afternoon following the news of a temporary shutdown of a major oil pipeline in the country. With the exchange rate between the euro and the dollar standing higher than 1.58, the prices were further boosted.
    However, OPEC officials said that the market was well-supplied and oil demand in the upcoming months would even decline.
Editor: Jiang Yuxia

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