World oil prices fell below $70 a barrel

World oil prices fell below $ 70 a barrelWorld prices for oil futures continued to fall. On the stock market price of oil fell another 6.3% and established by the end of the day below 70 U.S. $ / bbl.  In New York, at the official price of NYMEX futures Light, Sweet Crude Oil (November) fell 4 cents to $ 69 and settled at around 69.85 U.S. $ / bbl. In London InterContinental Exchange Futures Europe (ISE Futures Europe) official price of IPE Brent Crude futures lost 4 to $ 48 cents and settled at around 66.32 U.S. $ / bbl.

On Thursday, oil prices declined in the tenth time since the beginning of this month. The cause was a significant increase in U.S. stockpiles of crude oil and gasoline, while energy demand in the country over the previous year dropped significantly due to the economic crisis.

Meanwhile, the leadership of the OPEC has decided to postpone the extraordinary meeting of oil ministers of countries – participating in the international oil cartel on 24 October. Initially the event was scheduled for 18 November in Vienna. The reason to postpone the meeting at an earlier date has been accelerated the fall in world oil prices. Including the OPEC oil basket for the first time in 13 and a half months fell below 70 U.S. $ / bbl.

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