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Oil prices set new records

April 29 2008

Oil prices on world markets rose on Monday on the background of instability in the supply of raw materials from Nigeria and the oil installations in the North Sea, reaching to the stock exchange in New York, a new record, reports the Associated Press.

On the New York Stock Exchange NYMEX (New York Merchantile Exchange) cost of the May futures contracts for U.S. light crude oil Light Sweet Crude Oil rose on Monday to 0.23 U.S. dollar - up to 118.75 dollars per barrel. However, during the bidding price is very close to a record high of $ 120 - 119.93 per barrel given the dollar.

May futures price for North Sea petroleum mix of mark Brent Crude Oil at London exchange ISE (InterContinental Exchange Futures) following trades rose by 0.40 dollars - up to 116.74 dollars per barrel. According to forecasts of American analysts, in the near future to continue the uptrend in world oil prices, according to RIA News .

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