VIENNA, Dec. 27 (Xinhua) -- The daily average oil prices of the Organization of Petroleum Exporting Countries (OPEC) rushed to nearly 90 U.S. dollars per barrel after Christmas, reaching 89.54 dollars Wednesday, the Vienna-based cartel said Thursday.
The prices were 1.57 dollars higher than those on Monday, the last trading day before Christmas, it said.
Marketing analysts believed the possibility of unexpected soaring oil prices was limited due to the usual limited trade volume in the international oil market at the transition of the year.
The sudden jump of the oil prices in the last trading day should be attributed to worry about the geopolitical security in the market caused by Turkey's air strike at northern Iraq, which might affect the oil export of Iraq.
However, the Vienna-based energy consultancy association PVM said that the oil prices would continuously rise in the near future, mainly driven by the current lowest point of the crude oil stock in the United States.
The daily average oil prices of OPEC maintained over 90 dollars consecutively for six trading days in November and hit record high of 91.91 dollars per barrel on Nov. 21.
The prices were 1.57 dollars higher than those on Monday, the last trading day before Christmas, it said.
Marketing analysts believed the possibility of unexpected soaring oil prices was limited due to the usual limited trade volume in the international oil market at the transition of the year.
The sudden jump of the oil prices in the last trading day should be attributed to worry about the geopolitical security in the market caused by Turkey's air strike at northern Iraq, which might affect the oil export of Iraq.
However, the Vienna-based energy consultancy association PVM said that the oil prices would continuously rise in the near future, mainly driven by the current lowest point of the crude oil stock in the United States.
The daily average oil prices of OPEC maintained over 90 dollars consecutively for six trading days in November and hit record high of 91.91 dollars per barrel on Nov. 21.
