The cost of oil dropped below $ 50 a barrel.

Cost of oil during the auction at the New York Mercantile Exchange NYMEX fell below 50 dollars a barrel. The value of WTI crude oil brands with delivery in May 2009 by 17:55 Moscow time has fallen by 2.99 dollars to 49.25 dollars per barrel. The last time oil prices dropped below $ 50 a barrel April 7, 2009.
Oil brand Brent with delivery in May, dropped in price to 2.78 dollars to 51.28 dollars per barrel. The reason for reducing the cost of oil was made by the International Energy Agency (IEA), which was revised forecast of world demand for hydrocarbons in 2009. Under the new assessment, oil demand this year will be 83.4 million barrels per day. This is a million barrels less than the previous projection.
Reducing the cost of oil has become one of the reasons for the fall of major U.S. indexes. By 18:00 Moscow time Dow Jones index fell by 1.34 percent, S & P 500 - by 1.18 per cent, while the Nasdaq - 0,95 per cent. Recall the last time stamp WTI oil price has exceeded $ 50 in April 9th, 2009.