Oil price down 13 percent in four days

Oil price down 13 percent in four days
# 08 May 2010 09:53 (UTC +04:00)
12. Futures are down 13 percent for the week, the biggest drop since the week ended Dec. 19, 2008.
According to APA-Economics, Brent oil for June settlement declined $1.56, or 2 percent, to $78.27 a barrel on the London-based ICE Futures Europe exchange.
Oil volume in electronic trading on the Nymex was 946,806 contracts as of 2:34 p.m. in New York. Volume totaled 1.16 million contracts yesterday, 64 percent above the average of the past three months. Open interest was 1.48 million contracts, the highest level since March 13, 2008.
Crude oil tumbled, capping its biggest weekly decline in 16 months, on concern Europe’s debt crisis will slow the global economic recovery.
#
#

THE OPERATION IS BEING PERFORMED