Oil barrel price jumps to $ 48.88

Oil prices at dealings session on Friday in New York were concluded at a new high. The price of one barrel of oil reached $ 48.88 while the dealers continued their concerns over the volume if the American storage despite the decision of the government to use the strategic oil reserves.

The price of one barrel of light oil, delivery in November increased by 42 cents to reach $ 48.88 in the New York market. This number closely approached the record number registered during the dealing session on August 20 estimated at $ 49.40.

Dealers in the oil market expressed their concern over the volume of the declining American storage, which registered last week a 8th weekly recession, successively.