Rus News Journal

Oil has crept imperceptibly

the Libyan crisis has returned the pre-crisis prices for raw materials

In the oil market the panic &mdash has begun; yesterday at the auctions oil has closely come nearer to a mark 120 dollars for barr. It is the highest indicator since August, 2008. Experts speak about speculative splash in cost oil which has occurred from - for reductions of deliveries from Libya and fears of revolts in the next Algeria. If the situation does not improve, 200 dollars for barr. Also not far off.

On Thursday to 14. 00 Moscow time at the London oil stock exchange forward transactions on oil deliveries in April passed at the price of 119,79 dollars for barr. The auctions were closed on a mark 114,4 dollars for barr. Marks Brent and 99,6 dollars for barr. WTI.

Disorders in Libya have led to that the world concerns working in the country, have sharply reduced amount of works. As a result the oil recovery volume was reduced four times, to 400 thousand barr. A day. To disorders oil recovery in the country made 1,6 million barr. A day. Besides, investors are afraid that excitements will extend and to the next Algeria, and further on chain reaction will grasp all Persian gulf.

In case of conditions complications in Libya the prices for oil can rise to a maximum level of 2008 (almost 150 dollars for barr.), the deputy chief of department of the investment analysis of the company " does not exclude; Alor Dmitry Ljutjagin. As he said, if disorders are thrown on Gulf States and Iran, it will lead to a scale panic and the price for oil can exceed 200 dollars for barr.

If the such happens, the Russian companies will be the winner, the partner of consulting company RusEnergy Michael Krutihin believes. At the high prices they can defreeze those projects which were unprofitable at the low prices for oil.