High stocks cap prices

摘要

Oil prices came under pressure,as weakening demand and bulging crude stocks countered the effects of Opec production cuts.Atlantic basin benchmark North Sea Dated rose by 24/bl to 43.93/bl on 12 February,but US marker March WTI fell by S7.19/bl to 33.98/bl,as crude stocks at the Nymex delivery point in Cushing,Oklahoma,rose to a record 34.9mn bl.April WTI fell by half as much.A downward revision in IEA oil demand forecasts weighed on prices.