Commodity Exchange

The price for oil on NYMEX was closed with fall on $2,58 to $34,93 for barrel on confidence that recession deepening in the USA, the countries of Europe and Asia will promote the further reduction of demand for fuel. Falling of the share market and a problem in car industry became the catalyst of the commoditive markets. Falling of the share market is provoked by a negative from «Obama program» and yesterday's data about falling of industrial activity of New York to record-breaking low level - to -34,65 points (a minimum level from the beginning of this data tracing in 2001).

General Motors Corp. Has informed that requires additional crediting in volume of 16.6 billion dollars that can more than double volume of already received governmental support in loans. For the purpose of reduction costs GM plans to dismiss still an order of 47 thousand persons, in the enterprises worldwide. Company Chrysler LLC has informed that requires additional 5 billion dollars, and further, possibly, will reduce quantity of workplaces to 3 thousand, having added them to earlier dismissed 32 thousand workers.

"All negative economic news make the impact on the market, - the senior analyst BNP Paribas in New York marks Volume Benz. - there is no certain reason of oil costs falling, the market cannot simply keep growth".

The OPEC, USA  Department of Energy and the International power agency this month have lowered forecasts of demand for oil, having noted global economic recession. According to the minister of oil of Iraq Hussein al-Shahristani, the OPEC countries-participants can reduce an oil recovery at March session in case of instability prices and the markets. The truth if this week as we also assume, oil will punch resistance at level 32 dollars of the OPEC should to gather for an emergency meeting. If they certainly can think up what for as the event precisely does not depend on them, and all them «trumps already in game».