After the recent spike in oil below $ 105 Retreats

To fell back below $ 105 per barrel on Thursday.

U.S. midday trading benchmark crude oil in New York fell $ 1.85 to $ 104.67. Used by many U.S. refineries importing crude oil price for Brent crude, which is used, 92 cents to $ 106.75 fallen.

Crude oil trading before falling back later, early Thursday as high as $ 107.45, the highest since March of last year as the rose.

But analysts rising prices, while moderate global supply and global demand has been growing coffee was even identified as.

"(U.S. crude) market is overcooked," a report Thursday Ritterbusch & Associates says energy analyst Jim Ritterbusch.


Department of Energy, U.S. crude oil supplies in the week ending July 5 by 9.9 million barrels of oil fell after the Wednesday gave its recent growth. Gasoline supplies fell by 2.6 million barrels. Supply of oil supply in the past two weeks gasoline fell 4.3 million barrels, while the United States, slightly more than a day's consumption has dropped 20.2 million barrels.

Supply Drop, political upheaval in the Middle East may disrupt oil supply concerns, as well as two consecutive weeks and $ 11 per barrel price of oil sent from.

Supply pump prices drop a long, were gradually ending slide, insisting that the U.S. retail gasoline prices. The national average price of a gallon of gasoline per gallon to $ 3.52 on Thursday to an increase of 2 cents. Average than it was a month ago, however, increased 11 cents less marked the third straight day.

Crude oil and gasoline prices higher wholesale prices translate to high retail prices, as is likely to increase in the coming days.

Egypt and Middle East unrest related to the more general geopolitical risks, is currently buoying oil prices were to eliminate the threat, "the oil market in the second half of this year to support Some pillars will be done. "

Similar to the Paris-based International Energy Agency forecast for 2014 oil prices rising to their expectations, the bat should "alarm for some reason."

IEA global demand of 1.2 million barrels a day next year is seen rising from the increase in supply, an additional 1.3 million barrels of oil a day in 2014 is expected to result.

"Non-OPEC supply growth next year on a 20-year track record looks to kill," IEA Thursday in its latest monthly oil market report said.