Oil prices fell on Thursday after the International Energy Agency (IEA) cut energy demand growth forecast for the third global estimate institutions demand forecast supply growth down.
IEA third consecutive month of lower global oil demand growth forecast, before the U.S. Energy Information Administration (EIA) and the Organization of Petroleum Exporting Countries (OPEC) in this week lowered its forecast.
Sluggish growth of the economies in the United States and a number of major development, the various regions of Europe economic recession has eroded demand for energy, the rapid increase in crude oil production, especially in North America.
Citi Futures Perspectives energy analyst Timothy Evans said, "The market is increasingly felt fundamentals do not support oil prices."
According to the EIA weekly inventory report released Wednesday, the U.S. crude inventories increased to the highest level since 1990.
Analyst Patrick Kulsen Thursday disclosed data show that Europe Amsterdam-Rotterdam-Antwerp (ARA) oil storage centers gasoline inventories climbed to the highest in nearly five years.
Will expire next Monday, May Brent crude oil futures settled at $ 104.27 a barrel, down $ 1.52, intraday low of $ 103.70.
In May, the U.S. crude oil fell $ 1.13 to settle at $ 93.51 a barrel, well below the 50-day moving average of $ 94.33, today's low at $ 93.06.
Brent crude oil futures over U.S. crude oil futures premium narrowed to nine months to a minimum of $ 10.59, the balance sheet at $ 10.76.
The U.S. RBOB-May gasoline futures fell more than received $ 0.03 at $ 2.83 per gallon the distillate oil futures fell $ 0.05 to $ 2.89.