Source Pravda.Ru

After the Beginning of Military Operation Against Iraq Oil Price Drops Down

The price for a barrel of oil in New York in forty minutes after the beginning of the military operation by the United States against Iraq has come down by 1.16 dollars. During the night electronic trading session at the New York commodity exchange the futures price for barrel of "Brent" oil to be supplied in April was fixed at the mark of 28.72 dollars.

Earlier, during the afternoon trading session on Wednesday, the price dropped down by 1.79 dollars, or by 5.7 percent, and reached the mark of 29.88 dollars. The trading session on Wednesday was the fifth at the New York commodity exchange when the oil price was dropping.

On Monday, it still topped the mark of a year ago by thirty percent, today the difference amounts to seventeen percent. At the same time the analysts point out that the tendency, which rests, in the main, on speculations that the war will not last long, may change at any minute under the influence of negative for the the USA reports from Iraq.