Oil Falls below $91.75

Crude oil fell to $ 91.75 on Wednesday after the government reported that U.S. crude production increased by 2.9 million barrels in the week ending 12 October. The US Energy Information Administration said that at 369.2 million barrels, crude oil inventories are above the upper limit of the average range for this time of year. As for today, traders are advised to watch carefully after the leading stock markets and the major economic indicators which will be published from the U.S. and Euro-Zone in order to predict the next movements in oil prices.

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