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11.03.2013 15:40

Price of oil futures fell

Oil prices fell today, helped by the data provided by China. Meanwhile, we note that the dynamics of trade affected the information that oil production in Saudi Arabia, the world's largest exporter of "black gold" has increased in February to 9.15 million barrels a day, or 100,000 barrels more than the value of the previous month. It should also be noted that the increase in oil production was recorded after reaching a record low in January, starting in May 2011.

Note that the report submitted by the National Bureau of Statistics showed that the inflation rate in China has increased significantly in February, while still achieving a ten-month high, while other indicators have worsened, signaling a slowdown in recovery is the second largest economy in the report mire.Soglasno , consumer price inflation rose last month to 3.2 percent, compared with 2 percent in January. Note that such a sharp increase was slightly more than the average forecast of economists at 3 percent. In addition, we add that this was the highest level since April last year. In addition, other reports showed that house prices rose by 2.8 per cent per annum, which has been associated with the introduction of new government measures, which were aimed at reducing the cost of housing and avoid "bubble" in the market. Also note that the producer prices continued to fall in February, against which the producer price index fell by 1.6 percent year on year.

Note that other factors that were submitted by the National Bureau of Statistics showed that the pace of economic recovery, which started in October last year, a little slow at the beginning of 2013. As it became known, the volume of industrial production increased by 9.9 percent in the first two months of 2013, compared with an increase of 10.3 percent over the previous two months.

April futures price of U.S. light crude oil WTI (Light Sweet Crude Oil) fell to 91.13 dollars a barrel on the New York Mercantile Exchange.

April futures price for North Sea petroleum mix of mark Brent fell 37 cents to $ 110.09 a barrel on the London Stock Exchange ICE Futures Europe.

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