Oil prices fell

Oil prices fell on skepticism regarding the sharp fall in US oil inventories last week. Traders do not expect that this trend to continue in the future.

However, at the end of this week the price of oil is likely to show growth against the backdrop of the strongest stocks drop over the past 17 years, and also because of signs of high demand.

On Thursday, oil prices rose sharply after US Department of Energy's data shown a significant reduction in inventories - 14.5 million barrels last week. This is the strongest fall in the last 17 years.

However, the oil in the world is near record values, keeping low prices. Traders are closely watching the reserves data, waiting for signs of declining global oversupply.

However, many traders and fund managers believe that the reduction of inventories only turned a single anomaly due to interruptions in production and oil imports due to worsening weather conditions in the Gulf of Mexico.

"The storm caused interruptions in the production and import of crude oil last week," - said Norbert Rücker from Julius Baer. "Oil and gas production in the Gulf of Mexico almost recovered in volume and tankers again stood in line to unload, inventory reduction is likely to be a single event".

The cost of October futures for WTI (Light Sweet Crude Oil) fell to 46.28 dollars per barrel on the New York Mercantile Exchange.

October futures price for North Sea petroleum mix of mark Brent fell to 48.53 dollars a barrel on the London Stock Exchange ICE Futures Europe.