|
OPEC crude oil exceeds $100
 [Ennahar] The basket price of twelve grades of crude oil used as a reference to the Organization of Petroleum Exporting Countries (OPEC) has topped the $ 100 for the first time in two and a half years, reaching 100.59 dollars according to a statement released Tuesday.This reference price is a compilation of prices recorded on Monday, while tensions wq exacerbated in Libya, one of the major exporting countries of OPEC. It was 99.08 dollars Friday. This is the first time that the reference price of OPEC Surpasses $ 100 since September 2008. It had reached a historical record a few weeks ago, to U.S. $ 140.73 (July 4). The basket of crude oil takes into account the different oils produced by members of the organization: Saharan Blend (Algeria), Girassol (Angola), Oriente (Ecuador), Iran Heavy (Iran), Basra Light (Iraq), Kuwait Export ( Kuwait), Es Sider (Libya), Bonny Light (Nigeria), Qatar Marine (Qatar), Arab Light (Soddy Arabia), Murban (UAE) and Merey (Venezuela). It may differ significantly from the two grades of crude that refer to markets for raw materials: Brent of North Sea, for Europe, and West Texas Intermediate, in North America. Tuesday morning, Brent North Sea crude for April delivery was traded at 106.95 dollars, while the WTI for delivery in March was worth 92.65 dollars. Posted by: Fred 2011-02-23 |
| http://www.rantburg.com/poparticle.php?ID=316711 |