Oil prices surge by 57% in a year

Oil prices surged record-high by 57% from June 2010 to June 2011, showed an analysis of the Sofia Commodity Exchange (SCE). A year ago, crude oil was traded at $75 a barrel. A price peak was registered at the beginning of May 2011 when oil was traded at $126/barrel. Currently it stands at $118 per barrel. 

The price of the so-called “black gold” was tangibly influenced by the crises in the countries that mainly export it. According to analysts, however, economic growth in the US and China might slow down and these two countries are the biggest oil consumers. Adding the decline in fuel demand in Japan, the prices would presumably remain more or less unchanged, experts predict.

Fuels are a traditional and also the most traded commodity on the SCE. Deals in A95H petrol are currently effected at BGN 1,930/1,000 litres, up from BGN 1,775/1,000 litres at the same time of last year. This is a slight price increase of about 9%. Diesel currently sells at BGN 1,980/1,000 litres, compared to BGN 1,800/1,000 litres, or some 10% higher.

Gold is traded at around $1,540/ounce or 24% above its level at the end of June 2010. The price of the valuable metal is close to its record-breaking price of $1,540/ounce, reached at the beginning of May. Experts from Investopedia.com believe that gold prices could continue to rise.

Прочети цялата новина

Свързани новини: