The cost of oil fluctuates after employment data

Oil prices show mixed trend, driven by the release of data that showed that U.S. employers have increased the number of jobs is greater than expected. At the same time, the surprise was a significant upward revision rate for the last month. With these data increased the likelihood that the Federal Reserve can turn incentives for the largest economy in the world.

Meanwhile, on the dynamics of trading influence of the Ministry of Energy report that showed the reduction of oil reserves in the week ended Dec. 28. According to reports, U.S. crude inventories fell by 11.1 million barrels, while leaving to 359.9 million barrels, the lowest level in the last three months. Note that many analysts expected inventory reduction by only 1 million barrels (to 370.1 million).

In addition, gasoline inventories rose by 2.570 million barrels (to 225.7 million), exceeding the forecast of 2.2 million in the same time, distillate stocks rose by 4.570 million barrels to 124 million, more than three times the growth forecast (1.25 million barrels).

Economists note that such a large drop of oil is awesome, but the market does not react as it is compensated by a large volume of stocks of gasoline and distillates.

February futures price of U.S. light crude oil WTI (Light Sweet Crude Oil) fell to 92.42 dollars a barrel on the New York Mercantile Exchange.

February futures price for North Sea petroleum mix of mark Brent fell by 1 dollars to $ 110.92 a barrel on the London Stock Exchange ICE Futures Europe.