The oil prices rose. by kristina leskova

The situation in United States of America is really serious. Everybody speaks about crisis which influenced the whole world. All these matters began as mortgage crisis. Many American people took a mortgage, but they were not able to pay it. And so it happened very easily that the banks had no cash and they went bankrupt. Here in my country (Slovakia) it is not so easy to take a mortgage. Our banks investigate if the client is able to repay his debt.
The prices of oil increased during last Monday, too. This was answer to massive decline of dollar and also the ending contract that ends in October. The light American crude jumped to 130 dollars a barrel. In the end of last week the price of light crude was about 105 dollars a barrel and Trent was under the border 100 dollars. One week ago the price of oil should not be so high due to a hope that American government will admit a plan for the stabilization of financial sector. But this plan caused a massive decline of dollar and this situation makes the oil very expensive. Rate of exchange was 1, 4475 dollar per one euro. This is the biggest decline since January 2001. After the end of October contract the American oil gained 21, 95 dollars and one barrel costs 126, 50 dollars. During four days the oil gained almost 40 dollars. If the prices will still rise some of the people can not afford to buy oil and the demand could sink.


related story: http://news.yahoo.com/s/ap/20080922/ap_on_bi_ge/oil_prices;_ylt=AsDbG_ebucYxZ3gJW8EWDNGs0NUE

by kristina leskova for PocketNews (http://pocketnews.tv)

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