Oil price registers a new record before receding

Oil price registered a new high record on Monday exceeding $ 55 for one barrel, coupled with a standard increase of heating fuels price and fears of the lack of supplies in winter.

Price of the light American crude oil in London jumped to $ 55.33 for one barrel before it receded to $ 54.76 representing an increase of 68% since the beginning of the current year.

The price of heating fuels increased to a record that reached $ 1.55 per one Gallon and then it decreased to $ 1.53 representing a step back estimated at 1.22 cents, while the price of Brent Crude oil in London increased at a new record which reached $ 50.40 for one barrel but then decreased later to $ 49.80.