New record high for OPEC crudesApril 15th, 2008 - 4:25 pm ICT by admin
Vienna, April 15 (DPA) The price of crudes produced by the Organization of the Petroleum Exporting Countries (OPEC) have peaked above $104 for the first time, the cartel said Tuesday. On Monday, one barrel (159 litres) of crude produced by OPEC members stood at $104.02, up 35 cents from the previous day.
OPEC followed international bullish trends Monday. In New York, Nymex index ended Monday’s trading at $111.76 per barrel, the highest settlement on record, while Brent crude also posted a new high.
OPEC calculates an average basket price based on 13 brands produced by the cartel members.