As expected, oil prices have never been declined from its high price, yet it has been increasing as the US markets remained at a gloomy situation. Recently, just this day, oil is recorded at $117 above per barrel.
Also over the weekend, Iran's hard-line President Mahmoud Ahmadinejad was quoted Saturday as saying crude oil prices at $115 a barrel are too low, and that oil must "discover its real value."
"The oil price of $115 a barrel in today's global markets is a deceiving figure. Oil is a strategic commodity that needs to discover its real value," the Web site of Iran's state-run television quoted Ahmadinejad as saying.
The Iranian president made the remarks during a visit to an oil and gas exhibition in Tehran late Friday.
In other Nymex trading, heating oil futures were flat at $3.2923 a gallon while gasoline prices fell 0.18 cent to $2.9875 a gallon. Natural gas futures rose 1.3 cent to $10.60 per 1,000 cubic feet.
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