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Brent crude oil fell to $ 105 a barrel on Thursday, after the overthrow of the Egyptian military president, helping to ease the Middle East crude supplies may be blocked concerns.
Crude oil delivered vital sea lanes, the Suez Canal is not affected by the recent turmoil, but analysts said the turmoil caused in areas including the Middle East real and potential supply interference will support oil prices.
"If we say that the situation has calmed down too early, but it relates to the Persian Gulf countries and the interests of the Suez Canal oil consumer the safe operation seems to be assured that" crude oil brokers PVM analyst Tamas Varga said.
At 1855 GMT, Brent crude fell $ 0.29 to close at $ 105.47 a barrel on Wednesday rose to a two-week high of $ 106.03. U.S. crude fell $ 0.12 to close at $ 101.12 a barrel, hitting $ 102.18 from the previous 14-month highs.
European stock markets rose as crude oil pared losses after the European Central Bank and the Bank of England issued guidelines called distance hike is still very far away. Two central banks to maintain its interest rates unchanged.
In addition to the market that tensions in the Middle East, Egypt, pose a threat to oil supplies outside, Libya and Iraq, as well as Russia's exports of crude oil supply in the Mediterranean region are relatively rare, so that the physical crude oil decreased mobility.
Brent premium over U.S. crude CL-LCO1 = R is about $ 4.35, premium at $ 3.09 on Wednesday for December 2010 to the narrowest. Due to the U.S. Independence Day holiday, the New York Exchange closed for one day.
Traders await Friday's U.S. payrolls report to determine if the U.S. economic recovery on track. The data may be on when the U.S. Federal Reserve Board (Fed / FED) will begin to reduce the debt purchase plan to provide clues.
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