Author`s name Pavel Morozov

Saddam Hussein arrest drops oil prices down

Oil prices fall significantly at world oil markets in reaction to the arrest of Hussein.

At the IPE in London the price for Brent brand oil fell by 75 for barrel, reaching US$29.62.

At the electronic trades of New York commodity exchange the price fell by US$1.30. On Monday night one barrel was priced at $31.74 but then raised to 32.13

Market participants believe that the capture of Iraqi ex-dictator may change the situation with the country’s internal security to better, what will positively influence perspectives of its oil industry recovery. At the same time, some specialists call not to rush into conclusions and wait to prove such analysis is correct.

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