Brent Oil weakened to day 5

Monexnews-Brent Oil weakened for 5 days in a row, his premium menyusutkan in West Texas Intermediate crude (WTI) to thinning in 7 weeks, US crude oil reserves increased and the International Energy Agency (IEA) cut its global demand projections.

Brent futures down 0.3% on the London market after the greatest attenuation yesterday from 2 weeks. IEA cut demand projections for the 2nd time her since last month, reducing the estimated 2013 amounting to 60,000 barrels. US reserves of crude oil deposits increased significantly ever since 1982, recorded while spending most of July 1992, according to the Energy Department.

Increased oil reserves still will continue "until the US economy recovers fully mode: reach, said David lennox, an analyst at Fat Prophets in Sydney." we don't see any reason for oil prices to go up unless there are events that shake the supplies. There is no perubahanyang dynamic on demand. "

(gsy)

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Brent Traded Near 9-month High

Monexnews-brent oil Contract traded as high as 9 months in London after moving up in 4 weeks, strengthening the terlamanya since July. The superpower countries have still not been able to prevent Iran in terms of its nuclear program, said Iran's President, Mahmoud Ahmadinejad.

"The positive Outlook for international demand continues", said Ric Spooner, a chief market analyst of CMC Markets in Sydney. "The Inventory Data in the US, retail sales and industrial production until the end of next week still give estimates of short-term economic activity in the US".

The brent contract for March were $ 118.88 a barrel, down 2 cents.

(AR)

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