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The cost of oil fell for the first time in four days, after data showed that the number of initial claims for unemployment benefits in the U.S. increased more than forecast. Prices retreated from four-month high after the Department of Labor announced that the value of this index increased to 368 000, while experts estimate the number of appeals was to rise to 355,000.
Note also that the oil at the end of this month shows the highest monthly gain since August on speculation that strong economic growth will boost demand.
At the same time, the pressure of oil is the fact that tomorrow Department of Labor will release its data on employment in non-agricultural sectors of the economy, which may increase in January.
Also tomorrow, will be published and the data on the unemployment rate, which according to the expectations remain unchanged at 7.8%.
Recall also that, according to a report from the Energy Information Administration, the total demand for oil in the four weeks that ended Jan. 25, fell 0.3% to 18.3 million barrels a day, while still achieving the lowest level in a week, ended March 30, 2012.
March futures price of U.S. light crude oil WTI (Light Sweet Crude Oil) rose to 97.38 dollars a barrel on the New York Mercantile Exchange. Duration of the February futures expire today.
March futures price for North Sea petroleum mix of mark Brent rose 16 cents to $ 115.07 a barrel on the London Stock Exchange ICE Futures Europe.
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