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World Oil Prices Ease Down a Ways
Oil prices on leading world exchanges had fallen significantly at the end of trading on January 7. Official prices for one-month oil futures looked as follows. At InterContinental Exchange Futures in London, IPE Brent crude cost $94.39 (down $2.40) per barrel. On the New York Mercantile Exchange, Light Sweet crude oil cost $95.09 (down $2.82).
February futures for Light Sweet crude reached a record-breaking $100 per barrel on NYMEX on January 2 when price shot up $4.02. Analysts say that the price jump was connected with geopolitical conditions in the world and low fuel reserves.
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Photo: Alexey Kudenko