The Hellenic Radio (ERA): News in English, 08-05-08

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From: The Hellenic Radio (ERA) <www.ert.gr/>

CONTENTS

[01] Of Oil Prices

08 May 2008 10:37:00

By Athina Saloustrou

Crude oil rose to a record above $123 a barrel in markets in Asian trade while yesterday neared $ 124 in New York exchange market despite the announcement released regarding the growth of the strategic supplies in New York. In Singapore crude light delivery reached $ 123,52 a barrel in the morning and settled at $ 123,19. Crude oil may reach $125 a barrel this week because of concern over a supply shortage before the peak U.S. summer driving season, Libyas top oil official said. Oil prices have doubled since last year and they are six times up since 2002. The Head of the state company of Libya warned that prices may rise more as investors have turned their interest to mercantile exchange due to the dollars recession.

The wild race of oil prices could not stop even after the announcement of the US Ministry of Energy which spoke of a rise of 5,7 million barrels of US oil supplies within the last week.

Sucden analyst Robert Montefusco said: "We still encounter problems in Nigeria, Iran ignores the national community regarding its nuclear plan and oil demand is bigger in India and China."

Translated by Sofia Gartziou

[02] The Olympic Flame at "the Top of the World"

By

The Olympic flame reached the top of Mount Everest on Thursday, by a group of Chinese climbers three months before the beginning of Beijing Olympic Games. Beijing student Huang Chungui passed the flame to ethnic Tibetan woman Ciren Wangmu who reached the top at 09:18 local hour (04:18 Greece hour). About 10 climbers wearing red and bearing the logo "Beijing 2008" shouted" We are at the top of the world". The flame that crested Everests peak was taken from the main Olympic torch when it arrived in Beijing in March. According to New China News Agency, the route to Everest lasted six hours.

Translated by Sofia Gartziou

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