NEW YORK – Oil prices fell back to thin, in Thursday trading (3/12/2009) local time, as fears of traders and investors for the increased reserves in the United States (U.S.).

As quoted by AFP, Friday (4/12/2009), oil prices, light sweet crude for delivery in the main contract in January to weaken the American dollar 14 cents to USD76, 46 dollars per barrel. While in London, Brent crude for January delivery rose 48 cents instead of U.S. dollars at 78.36 dollars per barrel.

“The oil market traded in a very narrow range, and move almost insignificant. The people know that the market would be more stringent in the long run,” said Ellis Eckland independent analyst.

Meanwhile, analyst Phil Flynn of PFG said overall market sentiment is still good (bearish), after Wednesday’s weekly report showed an increase in U.S. oil reserves. “Unless demand for oil by consumers has increased more quickly, I would say these figures indicate that the economy has achieved an improvement,” said Flynn.

Crude oil prices have been corrected since Wednesday more than USD1, 50, after crude oil reserves in the U.S. in the week ended November 27 increased to 2.1 million barrels.