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The cost of oil fell, breaking with the longest series of growth over the last 14 months, after the published data showed an unexpected decrease in consumer sentiment and the euro continued its decline, which was associated with the official comments from the European Central Bank.
Futures prices fell 0.6%, as the report showed that the consumer sentiment index from Reuters / Michigan Thomson Reuters / Michigan fell in January to the level of 71.3, up from 72.9 in the previous month, as well as forecasts for the rise to the level of 75.
Meanwhile, economists say that now the market will move without a definite trend, in line with the economic indicators. Moreover, the recent strengthening of the dollar, probably prompted investors with a small profit.
Note that the euro fell 0.7% to $ 1.328 after Benoit Kere, who is a member of the executive board of the European Central Bank, said that the central bank will be forced to repay earlier loans, which were presented to them in a transaction LTRO.
Besides experts add that the weak euro and stronger dollar reduced investment in oil as an alternative investment.
February futures price of U.S. light crude oil WTI (Light Sweet Crude Oil) fell to 95.13 dollars a barrel on the New York Mercantile Exchange.
February futures price for North Sea petroleum mix of mark Brent rose to $ 111.15 a barrel on the London Stock Exchange ICE Futures Europe.
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