Oil prices continue to become cheaper in Friday trading on Friday as the variety "Brent" finished the week with prices lower by unprecedented over 16 dollars a barrel to start on Monday.
The largest decline was recorded on Thursday, when the depreciation was $ 12 in wild session sell-off of huge amounts of real and futures contracts.
The reason is concern about demand and reduction of investors' positions in commodity markets.
Explanations for analysts are the most different - from the effect of eradication of Osama bin Laden in the monetary actions of leading economies to try to avoid stifling demand excessive prices.
It was a domino effect because the vacuum created by fewer buyers and more sellers, told Reuters Tom Benz, director of trading commodity futures in New York the banking group BNP Paribas.
This spring, oil aspire to record levels since 2008. As "Brent" touched a level of $ 127 a barrel and U.S. light crude - $ 114.
Brent, however, fell on Friday with another $ 1.67 and reached $ 109.13 a barrel as sales volumes were twice higher than the average indicator for the 30-day period.
Contracts for this variety were concluded at prices lower by 16.76 dollar to levels a week earlier. This is the greatest week in history in dollar depreciation.
U.S. light crude was selling for $ 97.18 a barrel, which is cheaper per week to $ 16.75 - the biggest since 1983. now, since records began marketing the variety.
The final blow dealt speculative news that on Friday the euro zone finance ministers have discussed option of leaving the club by Greece of the single currency - something that was categorically denied by Athens, but predizika appreciation of the dollar.
Another factor was concern that the U.S. can stop its program in June for the printing of dollars and gaining federal debt - something that flooded the markets with U.S. currency and raised the price of oil in dollar dimensions.
The third cause concern in India by lifting interest rates and expectations that China, № 2 oil consumer in the world, may soon follow.
Banking group Goldman Sachs, which was predicted in April slump this week, warned that in 2012. Oil may surpass this year's peak due to shortage of raw material market and in particular if the Libyan oil does not return soon to the exchanges.