Editorial Note: The following news reports are summaries from original sources. They may also include corrections of Arabic names and political terminology. Comments are in parentheses.

OPEC daily prices rise over $130 for first time

www.chinaview.cn 2008-06-10 20:13:16  

    VIENNA, June 10 (Xinhua) --

The average daily oil prices of the Organization of Petroleum Exporting Countries (OPEC) on Monday hit the historic high of 130.87 U.S. dollars per barrel (dpb), the Vienna-based cartel said Tuesday.

    The prices once retreated back to 118.56 dpb last Wednesday and rose to 118.77 dpb last Thursday. But since last Friday the prices urged 12.10 dollars higher in just two trading days, and stood over 130 U.S. dollars on Monday for the first time, or 3.87 dollars higher than the last record set on May 22.

    Statistics showed that oil prices have risen from 30 dpb to 130dpb since the beginning of 2004, 4.3 times more expensive than before.

    Analysts noted that the geopolitical crisis in the Middle East region and the weak dollar were main pushers of the high oil prices.

    Meanwhile, the exchange rate of the U.S. dollar against all other international currencies has been depreciating, which drove the dollar-based oil prices even higher.

Editor: Du Guodong

Asia: Crude Oil Prices Near $135

10 Ιουν 2008 11:00:0  

Sources: ANA-MPA

Crude oil prices rose on Tuesday, nearing 135 dollars per barrel in the Asian trading, despite a call by Saudi Arabia for talks between oil-producing and consumer nations on skyrocketing prices. On Tuesday morning, crude oil for July delivery rose 57 cents to 134.92 dollars. North Sea Brent was also up by 44 cents, standing at 134.35 dollars.

US stocks also appeared mixed on Tuesday, after a pullback in oil prices and an unpredicted improvement of consumer market. Dow Jones index posted a 0.58% rise, closing at 12,280.32%, while Nasdaq index fell by 0.61%, standing at 2,459.46%. Saudi Arabia, the world’s leading producer, announced a summit between oil-producing and consumer nations to examine the reasons that have shot up oil prices. Saudi Arabia reiterated, however, that there is no oil shortage justifying the soaring prices.

http://news.ert.gr/en/c/6/33104.asp