Crude oil prices declined slightly but still in the range of U.S. $ 79 per barrel. The decline came despite a surprisingly crude oil stocks in the United States plummeted. This indicates the demand increases.

Through electronic transactions for Asian trade on the exchange NYMEX, New York, Wednesday afternoon in Singapore, the price of crude oil for December delivery fell 20 cents to U.S. $ 79.40 per barrel. Early this morning, oil prices rose U.S. $ 1.47 to U.S. $ 79.60 / barrel. Meanwhile, the price of Brent oil in London ICE exchange for December delivery fell 24 cents to U.S. $ 77.87 per barrel.

On Tuesday night, the survey institute American Petroleum Institute estimates that crude oil stocks fell 3.3 million barrels. Meanwhile, analysts surveyed by Platts estimates that 1.3 million barrel increase. However, the new U.S. Department of Energy will release the official report on oil stocks on New York time Wednesday.

“We still feel that the decline in prices to the area of U.S. $ 75 could happen,” said Galena from the Ritterbusch and Associates based in Illinois. Crude oil prices fell from the highest level this year at U.S. $ 82 per barrel last month as investors doubt the acceleration of U.S. economic recovery.

Some analysts say oil prices will further fall if the monthly report on unemployment in the U.S., which will be announced Friday this week, confirmed that the number of unemployed continues to swell.