Crude oil prices surge in international market

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Crude oil prices surge in international market

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Crude oil prices reached highest level of last 6 weeks in the global market.

23 July,2011 09:32 pm

The crude oil prices increased as the monetary crisis is likely to reduce in Europe and America.The threats of financial crises also lowered in Europe after EUs bail-out package to Greece while positive trend is seen regarding increase in loans’ ratio du to which world financial situation is expected to stabilised and use of oil to be increase.During the week, crude oil price reached 99 dollars and 87 cents per barrel with an increase of 3 dollars in New York market, while it reached 118 dollars and 67 cents per barrel in Europe.