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Oil prices declined moderately , helped by data from China , who reported an unexpected decline in exports , which, in turn, has increased concerns about slowing economic growth in the country 's second-largest oil consumer .
Futures fell 1.7 percent after it was announced that China's overseas delivery in February fell by 18.1 percent compared with a year earlier , showing the biggest decline since August 2009 . Many experts predicted an increase in exports by 7.5 percent . Imports grew by 10.1 %, compared with forecasts of an increase of 8%. According to customs data, the volume of imported oil to China in February was 23.05 tons, 18.1% below the January figure. A significant reduction in Chinese exports has led to a deficit of $ 22.98 billion last month, compared with a surplus of $ 31.86 in January. Analysts had expected a surplus of $ 13.2 billion in February.
A separate report showed that consumer price inflation in China increased by 2% in February last year , in line with expectations , while producer price inflation fell by 2 %, compared with forecasts for a 1.9 % drop .
Price dynamics also affects the situation in Libya . Note that Parliament ordered to send troops to Libya to release oil from ports seized their militias. Military operation to accomplish this task will begin within weeks . March 8 militants , who have taken control of one of the ports of Libya , said he started to trade oil . In the port of Essaouira Cider tanker came under the flag of North Korea , which began in the Gulf oil. Libyan authorities have threatened to destroy the aircraft using the vessel if it tries to leave the port .
April futures price for U.S. light crude oil WTI (Light Sweet Crude Oil) fell to $ 101.19 a barrel on the New York Mercantile Exchange (NYMEX).
April futures price for North Sea Brent crude oil mixture fell 61 cents to $ 108.04 a barrel on the London exchange ICE Futures Europe.
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