Oil: an overview of the market situation

Prices for Brent crude fell today , while dropping below $ 108 per barrel, reflecting weak demand in Europe . Meanwhile, the price of WTI crude oil rose moderately .

Decline in oil prices comes amid increasing fears of investors about demand in the European Union. Refining ">Talks between Russia and Ukraine on gas supplies with high probability will end with an agreement , which also leads to lower prices for European oil . Meanwhile, adding that the government is preparing to launch Libya Hariga port , after having been approved by the requirements of the National Guard , has worked to protect oil facilities , wages.

However, market participants are waiting for the publication of the report from the Department of Energy on oil and petroleum products in the United States . Industry experts expect another reduction of oil reserves at Cushing terminal in Oklahoma , but the doubt that the primary oil refining in the United States increased .

The cost of the July futures on U.S. light crude oil WTI (Light Sweet Crude Oil) rose to $ 102.69 per barrel on the New York Mercantile Exchange (NYMEX).

July futures price for North Sea Brent crude oil mixture declined 29 cents to $ 108.59 a barrel on the London exchange ICE Futures Europe.