World oil prices declined significantly

World oil prices declined significantlyWorld market prices for oil on the basis of bidding on September 2, 2008 at the leading oil exchanges declined significantly. Official oil futures prices coming month deliveries were: in London at the InterContinental Exchange Futures – IPE Brent Crude – 108,34 $US / bbl., in New York at the New York Mercantile Exchange – Light, Sweet Crude Oil – 109,71 $US / bbl.

The fall in prices caused by the fact that tropical storm «Gustave» this will not cause significant harm to the U.S. oil industry. Most of the oil platforms, set on the shelf of the Gulf of Mexico, is not affected by the storm. Therefore, the next days will be possible to return to facilities evacuated staff and begin to rebuild in earlier volumes of oil and natural gas, believed to U.S. Department of Energy.

Recall that in the Gulf of Mexico shelf comes about 26% of the total oil produced in the United States.

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