Crude prices for August has broken the US$57/bbl barrier, trading at about US $57.03/bbl on the London's International Petroleum Exchange. This price is close to April's record high of US$57.65/bbl, which has been considered the highest rise in price till now. Although the OPEC has attempted to cool down prices by increasing their output to 500,000 b/d from the beginning of July, crude oil was still being traded at US$57.37/bbl on Thursday's closing on the IPE. Crude prices are still showing bleak possibilities to fall below the US$50 mark.
20-Jun-05 
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