Widespread concern for the market to increase supply of crude oil, the New York Mercantile Exchange crude oil futures closed down 25.
Among them, the March crude oil futures contract fell $ 1.68, down 1.9%, at $ 86.19 / barrel, for November 30 last year, the lowest since.
Global Commodities Alert column editor Kevin Kerr pointed out that by the OPEC (OPEC) will increase the supply of implied or influence, crude oil futures had overbought condition softened.
Data, according to media survey showed U.S. crude inventories last week, is expected to rise 90 million barrels, distillate stocks are projected down 20 million barrels, gasoline stocks are expected to increase 220 million barrels. U.S. Energy Information Administration (EIA) data released in recent weeks shows that U.S. crude oil inventories remain high, growth in oil demand overshadowed the expected impact.
Commodity Broking Services managing director Jonathan Barratt said the cold weather in the northern hemisphere and the Alaska oil pipeline spill stimulated the early rise, the market was mistakenly believe that because of rising demand-driven growth, but it is not the case.