The cost of oil rose above $ 50 a barrel.

In the electronic trading system in the New York Commodity Exchange NYMEX WTI price of oil brands with delivery in May has exceeded 50 dollars per barrel. By 16:00 Moscow time oil went up by 2.33 dollars to 50.72 dollars per barrel.
It writes the newspaper The Wall Street Journal, to bid for London Brent oil brands with delivery next month went up by 1.7 dollars to 50.14 dollars per barrel.
The reason for the growth in oil prices was the summit of "Big twenty" (G20), which takes place April 2 in London. First of all, the talks focused on combating the effects of global crisis. In addition, the European Central Bank decided to lower the discount rate to 1.25 per cent a year.
As reported by Bloomberg, a positive impact on the bidding of oil provided the results of the session on U.S. markets on 1 April, which resulted in the major indexes rose by an average of two per cent. The rise in the stock market contributed to the statistical data on the volume of sales of houses and cars, which in March 2009 increased compared to February.