oil prices

Oil prices fell on Wednesday the European market to continue its losses for the third consecutive day, within the rebound from a higher level of operations in 17 months, and under the pressure of an unexpected rise in crude inventories in the United States, the biggest oil consumer in the world.

By at 09:22 GMT, US crude fell to $ 52.25 a barrel from the opening level of $ 52.37 and recorded the highest level of $ 52.53, the lowest level of $ 52.10.

Brent crude was down to $ 55.00 a barrel from the opening level of $ 55.13 and hit 55.35 dollars and the lowest level of $ 54.88.

US crude oil “for January delivery” trading yesterday, down by 0.3 percent, in the second daily loss in a row, after scoring in the previous day, the highest level in 17 months to $ 54.47 a barrel, and lost Brent “February rate of 0.4 percent decades within bounces level to $ 57.50 a barrel, the highest since July 2015.

The unofficial data the American Petroleum Institute said yesterday that crude stocks in the country rose by 4.7 million barrels for the week ending 9 December / December, the first increase in four weeks, to total inventories 519.3 million barrels, the negative sign of improving demand levels in the largest oil consuming country in the world.

Traders awaited later in the day, official data for US stocks issued by the Energy Information Administration and is expected to drop by 1.4 million barrels to total 515.3 million barrels.

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