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126.98 New York crude oil prices a new intraday high

Iran's crude oil production by rumors and other factors, on the 13th New York crude oil futures prices in nearly 127 U.S. dollars an intraday record high.

On the New York Mercantile Exchange, June delivery of light sweet crude futures on the intraday time-to 126.98 U.S. dollars, a record high. The contract ended in a barrel higher than the previous day at 1.57 U.S. dollars to close at 125.80 U.S. dollars. London's International Petroleum Exchange, May Brent crude-oil futures rose 1.19 U.S. dollars to close at 124.10 U.S. dollars a barrel.

In addition, the New York Mercantile Exchange, June delivery price per gallon gasoline futures rose 3.58 cents to close at 3.20 U.S. dollars, a record high. June delivery of heating oil futures price per gallon rose 13.91 cents to settle at 3.6989 U.S. dollars. June futures for delivery of natural gas per 1,000 cubic feet (1 cubic metre approximately 35 cubic feet) rose 12.1 cents to settle at 11.422 U.S. dollars.

The market believes that Iran consider reducing crude oil production led to the same day the report is the main reason for rising oil prices. According to reports, one of the officials on condition of anonymity, said Iran plans to start next month to cut crude oil output 400,000 barrels to 100 million barrels. However, Iranian Oil Minister Nuozha, has denied this rumor.
Submitted£º2008-05-14 11:59:39  
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