Crude Brent registers highest prices

Crude Brent oil in London on Thursday registered a standard figure and reached 42 dollars per barrel because of doubts over world oil reserves.

Despite statements made by the Oil Exporting countries OPEC, oil prices are witnessing an increase because of factors that obstruct production including troubles the Russian company "Yokus " faces with the judiciary and the referendum to be held on August 15 in Venezuela with President Hugo Chavez staying in power.

One middleman says that the great demand and the unexpected decrease in the American oil storage contribute to price increase.

At the trade level, European stock prices decreased by 8% during the past four months amid fears that the increase in oil prices and increasing interests rates would limit profits.

The European central Bank said that the EURO area is witnessing an economic improvement after issuing statements showing an economic growth in Germany and France, expressing concern that the increasing oil prices will increase inflation in the area.