The price of oil dropped below $ 40 a barrel.

KommentariiNesostoyavsheesya ralli10.01.2009Fondovye commodity markets and the world continues to fever after the New godaTsena mark WTI oil fell in Asian trading to 39.78 dollars per barrel. The reason for reducing steel traders doubt that the efforts of OPEC to reduce oil production quotas may not be sufficient to stabilize prices.
In addition, a negative influence on prices and forecast Deutsche Bank, which expects demand for oil this year to one million barrels per day. And according to the U.S. Department of Energy, fuel reserves have grown in the country on the basis of 13 from 15 last week, reports Bloomberg. It also shows a rapid decline in demand.
In doing so, futures on North Sea Brent fell to mark 44 dollars a barrel. Thus, the past few weeks, Brent is at a stable 3-4 dollars more expensive than WTI, which was rare in previous years. This is largely due to the fact that oil reserves in Europe are growing less intensively than in the United States.
The price of oil reached a record in July 2008, when the barrel went up to 147 dollars. Then she began to fall sharply because of the global economic crisis, reaching a five-year minimum in December - 33 dollars per barrel.