* Brent falls below $ 112 after sharp gains
Brent crude for $ 112 a barrel on Wednesday after sharp gains the previous day because of the escalating tensions between Iran and the West and economic data are encouraging from the United States and China.
By the time 0440 GMT, Brent crude for February delivery rose 33 cents to 111.80 dollars a barrel after rising more than four percent of the determined settlement price of the former at the highest level since November 15.
The price of benchmark U.S. crude for February delivery rose 33 cents to 102.63 dollars a barrel after hitting its highest closing level since the tenth of May, on Tuesday.
said Jeremy Vrezn analyst commodities markets at Societe Generale usually starts the general market is proof of the high prices. is likely to be optimistic the new year and the data positive factors support until the end of the month, but the facts of the specter of debt, which cast a shadow on the financial markets will fall upon the economic growth.
and increased tensions between Iran and the West after that issued the Tehran warning is the hardest to tone up now, after weeks of threatening war, while languishing economy under the impact of new financial sanctions from the United States and the European Union. Tehran has threatened to take action if sent a U.S. Navy aircraft carrier to the Gulf, but the United States downplayed this, saying it will continue battle groups associated with the carrier to the Gulf.
The Vrezn the market is right to increase the risk premium but it is likely that there is some back now, adding it believes that Iran is unable or unwilling to carry out its threats.
and said I do not think anyone believes that there is anything that can be achieved by Iran is behind it and they will follow the damage for themselves and their relationship with China.
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