VIENNA, Aug. 10 - The weekly average prices of the Organization of Petroleum Exporting Countries (OPEC) maintained their upward trend and finally broke through the 70-dollar mark, reaching 72.04 U.S. dollars a barrel last week, the Vienna-based cartel said Monday.
The price has doubled since the beginning of this year. It was also the highest of the OPEC weekly average oil prices since the second week of October 2008.
Optimism about the world's economic recovery and the dollar's fall on international financial markets continued to push crude oil and other commodity prices higher.
A softening of European stocks led to a fall in oil prices on the final trading day of last week (August 7). On that day, OPEC oil prices fell 0.96 dollars from the day before to 71.96 dollars a barrel.
The price has doubled since the beginning of this year. It was also the highest of the OPEC weekly average oil prices since the second week of October 2008.
Optimism about the world's economic recovery and the dollar's fall on international financial markets continued to push crude oil and other commodity prices higher.
A softening of European stocks led to a fall in oil prices on the final trading day of last week (August 7). On that day, OPEC oil prices fell 0.96 dollars from the day before to 71.96 dollars a barrel.
