The price of crude oil struck a record high of 133 dollars
Posted by handrecord on May 23, 2008
NEW YORK (AFP) – The price of crude oil struck a record high of 133 dollars a barrel Tuesday in New York despite new predictions of slower demand growth for energy, traders said.
Crude Oil traded in New York briefly broke through its prior peak of 133 dollars, which was reached on Monday. The latest spike came after prices had fallen earlier Tuesday after the International Energy Agency (IEA) cut its forecast for growth in global oil demand.
After scaling new heights, New York’s main oil futures contract, light sweet crude Oil for June delivery, closed at 133 dollars.
Light sweet oil is short and well-known name of Light sweet crude oil. Crude oil trading is the world’s largest-volume futures contract trading on a physical commodity. the NYMEX Division light sweet crude oil futures contract is the world’s most liquid form for crude oil trading.
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