Wednesday oil prices hit the $ 100 mark to close at $ 98.17

Financial new network ( micro-blog )] ((MarketWatch) -, Claudia Assis, V. Phani Kumar,,) Wednesday (February 8th), , New York Mercantile Exchange, light sweet crude for March delivery rose 30 cents, or 0.3 percent, to close at each 98.71 U.S. dollars a barrel.

The day oil prices up to a barrel of $ 100.09, but in the subsequent trading session began to decline almost offset by the day or. The day of the lowest closing price of $ 98.17 a barrel.

the U.S. Energy Information Administration (EIA) of the report is released, The price of oil began to fall. Data prior to the announcement, light sweet crude for delivery in March to $ 99.76 a barrel.

energy service agencies in Kentucky Summit Energy analyst David Smith (Matt Smith), the transaction is “depressed”. Investors expect the EIA will release similar to the United States Petroleum Institute (API) data, reduce the supply of crude oil.

In addition, the EIA once again pointed out that weak demand for crude oil and gasoline and distillate oil consumption will decline.

As of February 3, the supply of crude oil the week increased by 300,000 barrels, the EIA said.

last Tuesday, the American Petroleum Institute (API) known as the weekly crude oil inventories fell 4.5 million barrels, making the market expected the EIA will be published downward data.

EIA and API published inventory data is not uncommon, the market tends to be more concerned about the official reports.

EIA also said gasoline supplies for the week increased by 1.6 million barrels and distillate supplies also increased, including fuel oil increased by 1.2 million barrels.

Platts survey analysts to predict gasoline inventories rose 1.25 million barrels and distillates fell by 20 million barrels a day.

Gasoline futures for March delivery rose 5 cents, or 1.6 percent, to close at $ 2.98 per gallon. The fuel oil futures for March delivery fell by close to 1 cent to close at $ 3.19 per gallon.