New record high for OPEC crudes

April 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.

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