West Texas Intermediate crude fell to the lowest level in five weeks after a government report showed bigger-than-expected gains in gasoline and distillate supplies as demand slid.

Prices declined as much as 0.9 percent. Inventories of gasoline and distillate, including diesel fuel and heating oil, each climbed more than twice as much as forecast in the week ended Jan. 3. Total products supplied, a measure of demand, tumbled 4.1 percent to the lowest level in seven months, according to a report today from the Energy Information Administration.

Crude prices also fell as Libya’s state-owned National Oil Corp. said production increased because of the resumption of pumping from the Sharara oil field. Output rose to 546,000 barrels a day yesterday.

WTI for February delivery dropped 75 cents, or 0.8 percent, to $92.92 a barrel at 10:47 a.m. on the New York Mercantile Exchange. The volume of all futures traded was 6.5 percent above the 100-day average.

Brent for February settlement slid 13 cents to $107.22 a barrel on the London-based ICE Futures Europe exchange. Volume was 4.4 percent above the 100-day average. The European benchmark crude was at a $14.30 premium to WTI. The spread closed at $13.68 yesterday.

The price of gold decreases the second day in a row , while the strengthening of the U.S. dollar and the forthcoming publication of the minutes of the last meeting of the Operations Committee on the U.S. Federal Open Market investors keep buying from this metal , which is an alternative currency .

Gold prices are reduced in response to the strengthening of the dollar , which weakened demand from foreign investors. The price of gold is fixed in dollars and dollar growth during this precious metal more expensive for investors using other currencies .

Some investors fear to hold gold in their portfolios before the publication of the Protocols of the December meeting of the Fed , which will be released today at 19:00 GMT. Investors will see a more detailed picture of how central bankers have reached agreement on key minimize the program to stimulate the economy .

Gold has received support from the Fed attempts to keep borrowing costs low, because then assets with zero yield could easily compete with interest-earning assets, such as bonds .

Cost February gold futures on the COMEX today dropped to $ 1218.30 per ounce.

Gold $1,231.70 +2.10 +0.17%

Oil