Thursday, January 8, 2009

Oil prices fell to a record 12 percent.

The price of WTI crude oil brands on the basis of the closing trades on the New York Mercantile Exchange on Wednesday fell by 12 percent, which was a record fall in the percentage of trades in one day since 2001, the agency AP.
WTI crude oil futures with delivery in February lost 5.95 dollars and the price dropped to 42.63 dollars per barrel. The sharp fall in oil prices linked to the U.S. government reported a substantial increase in oil reserves - to 6.7 million barrels, but that, according to the experts, the increase should not exceed 1.5 million barrels.
In Europe, the price of stamps February Brent crude oil futures also fell sharply - to 4.67 dollar to 45.86 dollars per barrel.
According to France Presse, American stock indices on Wednesday also dropped sharply. Thus, the Dow Jones Industrial lost 2.72 percent (245.40 points), falling to 8,679.70 points; high-tech Nasdaq dropped 3.23 percent (53.32 points) to 1,599.06 point, while the broader index market Standard & Poor's 500 lost 3 percent (28.05 points) and amounted to 906.65 point at the close.
The main share indexes fall occurred in such major companies as Alcoa (10,15 percent), declared on the eve of staff reductions, as well as Intel (6,05 percent) and Time Warner (6,28 percent).

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