Oil prices fell 2% as soon as sharp growth of Amercian gasoline reserves became known

/IRBIS, Apr 11, 01/ - AK&M informs that prices of crude oil fell at the opening of trades in Europe, as soon as the API data on the American reserves of fuel and lubricants became known. Now it is at $25.38 for Brent blend, or 2% lower than it was on Asian markets by 9AM Moscow time, at $25.92 per barrel. It was expected that API will reveal decrease or even a slightest increase in the American oil reserves, therefore the prices were increasing. However, API showed a 4.7 mln barrel growth, which is twice as much as the expectations. Analysts believe that it means that American markets will not suffer from the lack of oil in spring-summer, hence, there will be no sharp growth in crude oil price. Experts believe that the decrease in oil and oil products prices is influenced now by profit fixing after a sharp growth, since the trades participants were "bullish" lately and now most of the traders, who were buying, are trying to sell futures.