Oil exceeds $ 53 a barrel
Regional, Economics, 10/9/2004

Crude oil barrel price registered a new record in New York yesterday of $ 53.25 over fears of Nigeria's exports halt and the production decrease of the American oil in the Mexican Gulf related to the bad weather conditions it experienced recently.

The number of future contracts of the light American crude oil for November in Nymex reached $ 53.25 for one barrel, representing an increase of 58 cents over the closing price of Thursday. The new increase in the price came after news on that oil workers in Nigeria, and OPEC member, will start a new strike on Monday.

The dealers felt anxious over the bad weather conditions in the Gulf of Mexico, but Nymex oil once again receded to $ 53 upon closure. Once again Brent oil prices in London registered another record with $ 49.30 as a price for one barrel.

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