Oil: an overview of the market situation

Oil prices fell moderately today, but remained near seven-week highs , as tensions between Ukraine and Russia intensified. Given this situation , U.S. Secretary of State John Kerry said Washington is close to new sanctions against Moscow. Investors worry that tougher sanctions may affect oil and gas flows to Europe.

Meanwhile, experts say that WTI quotes fall in accumulation of significant oil reserves in the United States . Demand growth is not observed, and the overall picture shows the weakness of the oil market in the United States . Recall that U.S. crude inventories rose in the last week by 3.52 million barrels - to a maximum of 1931 397 700 000 barrels. Demand for oil dropped by 361 thousand barrels per day - up to 18.1 million barrels per day , the minimum since last July .

News from Libya , however , support the price of oil. In the present report said today that oil ports may remain closed longer than expected .

A rebel group in the east of the country , who blocked several ports , said Thursday that they will not open terminals of Ras Lanuf and Es Sider , if the government does not implement its part of the deal.

June futures on U.S. light crude oil WTI (Light Sweet Crude Oil) fell to $ 100.73 a barrel on the New York Mercantile Exchange (NYMEX).

June futures price for North Sea Brent crude oil mixture fell 98 cents to $ 109.50 a barrel on the London exchange ICE Futures Europe.