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Oil price drops in USA, jumps in Europe

04 April 2009 11:07 (UTC +04:00)

Baku. Vugar Israfilovâ€“APA-Economics. Crude oil prices dropped on the New York Mercantile Exchange last night despite its recent increasing this week and reached $52.51 per barrel, APA-Economics reports. It lost 0.25% or 0.13 dollar within a day. On Friday, oil futures for May were $52.64 p/b.
Crude oil prices are $94.76 lower than maximum absolute prices on New York Mercantile Exchange last July. In London, Brent prices gained 72 cent or 1.36 % to $53.47 p/b for May futures.
The analysts said rise in hydrocarbon crude price could relate to reactivation of stock exchanges and US dollar devaluation. In this case, the foreign investors will be interested in paying of oil futures in USD.