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Oil prices fell today , weighed down by forecasts of growth in U.S. oil inventories . The less , supply disruptions from Libya and other countries important to keep prices from falling further .
Experts note that the improvement in weather conditions in the United States is likely to reduce the demand for heating fuel . In addition , investors are forecasting an increase in demand for gasoline before the summer driving season.
It is expected that commercial oil stocks in the U.S. rose by 1.4 million barrels on average per week on February 21. Recall that today will report on reserves American Petroleum Institute (API), and tomorrow - U.S. Energy Information Administration (EIA). If the forecast is for oil reserves is confirmed, it will be the second weekly gain .
It is also expected that distillate stocks , including heating oil and diesel, fell by 1.5 million barrels last week. Gasoline inventories may also fall to 1.5 million
Investors are trying to assess whether improvement in the U.S. economy to increase gasoline sales enough to offset the decline in consumption of distillates and promote demand for crude oil .
" U.S. crude is now close to four-month highs. At some point, the demand for it will decrease. Have a chance to see a drop to $ 100 per barrel , and possibly even lower , "said Michael Hewson , market analyst at CMC Markets. "Prices for Brent crude continue to rely on geopolitical issues and supply ."
One of their reports presented today showed that China may increase oil imports in 2014 to 7 % - to 6.02 million barrels per day ( b / d ) against 5.63 million b / d in the previous year , experts predict. Rate of increase in the volume of imports will be a maximum of 2010 due to continued growth in demand for energy in this country. According to experts , China 's oil imports will increase this year by 380 thousand b / d - to 6.08 million b / d . According to official statistics , China 's oil imports increased in January to a record 6.66 million barrels per day. Steady growth in demand for energy in China has led to the fact that in September last year, the country temporarily bypassed the United States as the world's largest net importer of oil , reported the U.S. Department of Energy . This trend may continue in 2014 , predicts the Ministry of Energy .
April futures price for U.S. light crude oil WTI (Light Sweet Crude Oil) fell to $ 101.57 a barrel on the New York Mercantile Exchange (NYMEX).
April futures price for North Sea Brent crude oil mixture fell 83 cents to $ 109.85 a barrel on the London exchange ICE Futures Europe.
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