Brent crude oil price the last two trading days is below $67 a barrel.

Brent crude oil price the last two trading days is below $67 per barrel. On September 7, the official price of the futures IPE Brent Crude (October) on an electronic commodity exchange InterContinental Exchange Futures Europe (ICE Futures Europe) in London has fallen by 29 cents (-0.5%) and set at around U.S. $66,53 barrel. At the same level the official price of Brent crude oil was on 29 July 2009. Meanwhile, prices in transactions with London Brent crude were established in the range 66,38-68,05 per barrel.

Oil price Brent on ICE Futures Europe fell on Sept. 7 for the sixth consecutive time. Recall the outcome of last week, Brent oil barrel in the five trading days fell by $5.97, or 8.2%, while this price is lowest level in over a month.

Further reduction of 7 September Brent crude oil prices was due to the deepening of the correction in the oil market. Of reduced demand for oil, Brent additionally contributed to the lack of bidding for oil WTI (Light Sweet) on an urgent Mercantile Exchange New York Mercantile Exchange (NYMEX) in New York in connection with a public holiday in the U.S., where on Sept. 7 marked the federal holiday - Labor Day.

Meanwhile, the official price of WTI crude oil at NYMEX on Sept. 7 has not changed and remained at the same elevation, where it is established on the basis of bidding on September 4. Thus, the official price of the futures Light, Sweet Crude Oil (October) amounted to $68.02 per barrel.

Meanwhile, oil price per barrel for transactions with futures Light Sweet, who on Sept. 7 in the absence of trading on the NYMEX carried out only in the electronic trading system, CME GLOBEX, established in the range 67,54-68,92.
The price of WTI crude oil has fallen for the past week on 4.72 dollars, or 6.5%, while leaving to their lowest level in more than two weeks.

Note that the outcome of last week, oil prices on the stock exchanges declined by an average of 7,4%, which was a consequence of the lack of fundamental news that could stabilize the market. However, active elimination of long positions on oil futures was observed only in the first two days of the week, and the next three trading days the price of oil has not significantly changed and remained at the same level at which they were established on 1 September.
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08.09.2009