Oil closes in Brazil's low of over 9% in New York and London

Contracts in the U.S. closed in fall of $ 3.63.
Despencaram oil prices around $ 110 a barrel since July.

Oil in New York closed in fall of 9.31% this Wednesday (24), as new data on the gloomy U.S. economy offset a report on an unexpected decline in inventories of the product in the country.

The U.S. oil futures closed in fall of U.S. $ 3.63, to $ 35.35 a barrel, below the maximum of $ 39.69 during the session.

The losses followed government data showing an increase in requests for assistance, the U.S. unemployment to the highest level in 26 years and a cut in spending by consumers in November. Those figures reinforced the view of a continued slowdown in energy consumption.

"So what the price is low enough to break the economic gloom, oil will remain under pressure," said Mike Fitzpatrick, vice president of MF Global in New York.

The barrel of Brent oil, the reference in Europe, ended today with a low of 9.2% in the Stock Exchange of Futures for Intercontinental London (ICE Futures, in English), after it announced that the oil reserves of the United States, the largest energy consumer the world, fell last week.

The barrel of Brent for delivery in February closed at $ 36.61, a drop of $ 3.75 on the floor on Tuesday.

The low price of Brent coincided with the publication of data on oil inventories in the United States, which fell 3.1 million barrels last week to 318.2 million, according announced the U.S. Department of Energy.

Oil prices despencaram about $ 110 a barrel since July, as the global financial crisis reduced demand for consumer and business for fuel.

The Energy Information Agency (EIA) of the U.S. said on Wednesday that stockpiles of oil the U.S. retreated 3.1 million barrels last week, with the slowdown in imports, up-market high projection of 400 thousand barrels.

The Organization of Petroleum Exporting Countries (OPEC) has already announced cuts of almost 5% in world supply of the product and may convene an emergency meeting before March, if prices continue to fall, said the group's president, Chakib Khelil, on Tuesday Monday.

Source: G1
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