The price of oil brand Brent fell on Thursday below $ 50 a barrel for the first time since May 2005, said "Finmarket" referring to the agency Bloomberg.
STOCK QUOTE Brent oil futures for January on the London ICE Futures exchange fell during the bidding at 3.7% - to 49.8 dollars per barrel - down from May 2005.
The value of this brand of oil has collapsed by 66% since a record 147.5 dollars per barrel July 11, against the backdrop of a global credit crisis, resulting in the reduction of industrial production and consumer spending.
The price of oil futures contract for December WTI brand in the electronic system of the New York Commodity Exchange (NYMEX) to 16:30 Moscow time on Thursday fell by 3.20 dollar (6%) of the closing bid on November 19, and amounted to 50.42 dollar a barrel. During the bidding price of oil falls to mark 50.33 dollars per barrel.
According to forecast the International Energy Agency (IEA), an increase in oil demand in 2008 will be a minimum of 23 years.
"The price of oil at 147 dollars a barrel was due entirely speculative bubble - noted analyst Dresdner Kleinwort Group Ltd. Gareth Lewis-Davies. - What now could trigger further decline is evidence that demand is less than it now rooted in the pessimistic predictions. "
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