This year promises to be the most successful for the oil market over the last decade. Reduction of stocks in the U.S. over the past four weeks, went in parallel with the strengthening of the dollar.

State Energy Information Administration (EIA) reported Wednesday that crude oil reserves in the U.S. declined for the week ending December 25, at 1,5 million barrels, gasoline inventories fell by 300,000 barrels and distillates – by 2 million barrels.

Analysts expect oil stockpiles fell by 2 million barrels, gasoline inventories to rise by 500,000 barrels, and distillate stocks to decrease by 2.2 million barrels.

to 9.51 IST the February futures for U.S. light crude rose 47 cents to $79.75 a barrel during trading touching a five-week peak at $79 85 per barrel and some not dotyanuvshis to psychologically important mark of $80. Slightly more than two weeks, oil prices have risen 14 percent.

The February futures indicative oil brand Brent gained 69 cents to $78.72 per barrel.

The average 2009 oil quotes were $62 per barrel: if at the beginning of the year they fell to a five-year lows below $33, to a new year, they came close to $82.

“The American market, seems now witnessing a drastic reduction of surplus stocks due to higher demand and an all-time low volumes of imports “, – the report says Barclays Capital.

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