Thursday, the main international stock exchanges registered a sharp fall in oil prices. At the New York NYMEX exchange, contracts for the supply of the "light sweet" crude in August went down by as much as $2.21 and made $57.80 a barrel.
At the London international crude exchange the price for the "Brent" crude fell by $0.96 to make $57.31 a barrel.
Many analysts link the fall in oil prices with the publication of the report of the International Energy Agency (IEA) in Paris.
The IEA forecast a drop in oil demand in 2005 by 200,000 barrels a day down to 1.58 million barrels due to the lower, than expected earlier, rate of economic growth in the USA and China, who are the world's largest raw hydrocarbon consumers.
At the London international crude exchange the price for the "Brent" crude fell by $0.96 to make $57.31 a barrel.
Many analysts link the fall in oil prices with the publication of the report of the International Energy Agency (IEA) in Paris.
The IEA forecast a drop in oil demand in 2005 by 200,000 barrels a day down to 1.58 million barrels due to the lower, than expected earlier, rate of economic growth in the USA and China, who are the world's largest raw hydrocarbon consumers.
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