Oil under pressure from his heart sale Greece

Came forward contracts for crude oil under selling pressure for the sixth day during the European morning trade Wednesday, as investors continued to deal with the assets Tamrtbth growth amid fears of the impact of the elections in Greece on the debt crisis in the region of Alauruz

In the New York Mercantile Exchange, trading contracts for light sweet crude oil delivered from June to June at 96.47 dollars a barrel during European morning trade, shedding 0.55%.

He had fallen earlier by as much as 0.8% to trade at the lowest price of 96.27 dollars a barrel. The price of oil reached 95.36 dollars a barrel on Monday, its lowest level since December 20, 2011. Where he continued to decline six days, the longest since July 2010.

Investors continued to control political developments in Greece, as a country burdened with debt and struggling to form a coalition government after elections end of the week.

And investor sentiment fell after Alexis announced Tesberas Sirza leftist party leader, said Tuesday that the financial aid package to Greece to be null and void, and called to refrain from the Greek debt repayment.
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Fueled political uncertainty concerns that Greece will not have a government in a timely manner to secure the next tranche of international aid in the next month, at a time when it seems to hold elections is likely.

The developments in France is also in focus, and Francois Hollande, the Socialist president-elect called on to take an approach that focuses more on growth to address the debt crisis, which could create tensions with Germany's insistence on fiscal austerity.

There are fears that the region's crisis of sovereign debt may lead to slower economic growth on a larger scale, which would curb demand for oil. The euro area and formed 12% of global consumption of oil in 2010, according to data from British Petroleum.

Prices of oil under more pressure after a male and a Saudi oil minister of Saudi Arabia Ali al-Naimi said his country store up to 80 million barrels of crude oil to increase the supply of global supply in response to prices that are "still a bit high."

He said Mr. Naimi that Saudi Arabia pumps about 10 million barrels of oil per day. Saudi Arabia is the largest producer and exporter in the world of oil.

In the meantime, waiting for market participants new information on stocks weekly U.S. crude and refined products to measure the strength of oil demand in top consumer and the largest source of oil in the world.

American Petroleum Institute will publish a report on crude oil inventories, while the report on Wednesday may show that crude oil inventories rose by 2.0 million barrels last week to its highest level since September 1990, which confirms the fears of a slowdown in oil demand from the U.S. United

The United States is the world's largest oil-consuming country, and is responsible for about 22% of global demand for oil.


After markets closed on Tuesday, said the American Petroleum Institute, an industry group, that U.S. crude oil stocks rose by 7780000 barrels last week to $ 378 million, the highest level since August 1990.

Elsewhere, in stock futures contracts, futures contracts fell to Brent for June delivery rose 0.45% to trade at 112.23 dollars a barrel, where the difference between the stop and Brent crude oil futures at 15.76. Dollars a barrel.

The European index rose for Brent,, 12% the highest level of daily trading at 128.38 dollars a barrel on March 1.

This has helped to get strong gains in oil prices, the possibility that the supply of Iranian oil during the last year and the first quarter of this year.

And helped pull oil prices from highs in the first quarter, the revival of talks between Iran and major powers over Tehran's nuclear ambitions, along with higher production in Saudi Arabia, Libya and the presence of signs of slowing U.S. economic growth and employment opportunities.