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The new OPEC Reference Basket of Crudes is made up of the following oils: Saharan Blend (Algeria), Minas (Indonesia), Iran Heavy (Islamic Republic of Iran), Basra Light (Iraq), Kuwait Export (Kuwait), Es Sider (Libya), Bonny Light (Nigeria), Qatar Marine (Qatar), Arab Light (Saudi Arabia), Murban (UAE) and BCF 17 (Venezuela).
On the other hand, oil prices tumbled Wednesday, June 20th after the US government reported robust gains in energy stockpiles, outweighing concerns about a nationwide strike in crude producer Nigeria, traders said.
New York's main oil futures contract, light sweet crude for delivery in July, fell 91 cents to close at $68.19 per barrel.
The July futures contract expired Wednesday; on the contract for August, which begins Thursday, crude fell 81 cents to $68.86 per barrel.
In London, Brent North Sea crude for August delivery dived $1.42 to settle at $70.42 per barrel. -Neftegaz.ru
Posted June 21st, 2007 by Anastvatz
