Oil continues to fall.

Keywords: Oil, U.S., BP.

After losing nearly $ 8 since the beginning of the week, oil prices continue to plummet in New York. The market remains focused on the difficulties of the euro area.

One euro under pressure, a dollar climbs and uncertainties in the euro area: the tail is no recipe on the oil market. After falling below $ 80 on Wednesday, oil prices continued to fall Thursday. Around 4:00 p.m., a barrel of light crude Texas (WTI) on the New York Mercantile Exchange (Nymex) lost 0.48 to 79.17 dollars. This situation contrasts with that of earlier this week when oil markets were trying to look for $ 90.
The main cause of this decline is the strengthening of the dollar, which makes the purchase less attractive. The single European currency continues to lose ground against the greenback, penalized by fears of contagion from problems of sovereign debt in Europe. On Thursday around 16:30, the euro symbol squarely under $ 1.28, to 1.2728 dollar per euro (-0.66%).
Greece tensions continue. Portugal is under the threat of a deterioration of its sovereign rating by Moody's and Spain faces a rumor suggesting that the country will soon need the support of the IMF.

Stocks rise:
Another bad news for oil markets, announced Wednesday by the U.S. Agency for Energy Information (EIA): Crude oil stocks overseas have increased significantly more than expected last week, 2.8 million barrels to 360.6 million. Economists on average had expected an increase of 1.1 million barrels.
Similarly, gasoline inventories rose 1.2 million barrels to 224.9 million. The reserves of distillates, which include heating oil, for their part, increased 600,000 barrels to 152.4 million.
The fears of tight supply, which had supported the market since theoil spill and has reduced activity in the Gulf of MexicoEvaporate.