Post by ukipa on Nov 18, 2011 21:55:47 GMT 4
The Venezuelan oil basket continued its upward trend, and it gained USD 1.84 compared to the average price last week. The price of the Venezuelan oil ended the week at USD 111.24 per barrel, reported the Ministry of Energy and Petroleum on its Twitter account.
The Venezuelan basket of crude oil and products averages USD 100.41 per barrel so far this year.
Meanwhile, the OPEC basket ended the week with an average price of USD 112.54 per barrel. The US light crude oil (WTI) rose to USD 99.77 and the North Sea Brent plunged USD 0.98 to USD 112.53 a barrel.
Menpet reported that "crude oil prices showed a volatile trend this week, and ended with an upward trend due to better than expected US macroeconomic data and lower US crude oil inventories. The North Sea Brent was pushed down by fears that the debt crisis could further spread in the euro zone."
The Venezuelan basket of crude oil and products averages USD 100.41 per barrel so far this year.
Meanwhile, the OPEC basket ended the week with an average price of USD 112.54 per barrel. The US light crude oil (WTI) rose to USD 99.77 and the North Sea Brent plunged USD 0.98 to USD 112.53 a barrel.
Menpet reported that "crude oil prices showed a volatile trend this week, and ended with an upward trend due to better than expected US macroeconomic data and lower US crude oil inventories. The North Sea Brent was pushed down by fears that the debt crisis could further spread in the euro zone."