Yesterday oil fell from the highest level in four years amid signs of increasing inventories in the country with the largest economy in the world, Bloomberg reports.

On Thursday futures in New York lost 2,7%, demonstrating the biggest daily drop in seven weeks. Inventories in key hub in Oklahoma grew by 1,7 million barrels.

Oil price growth was caused by concerns about reducing supply from Iran to Venezuela. Even though oil producing countries win from such increase, it can result in lower demand for the energy.

Meanwhile, export from the US rose last week to 11,1 million barrels per day. Gasoline prices lost 1,8% to $2,1004 per gallon.

However, today concerns over shrinking supply returned back to investors, and oil started the day with growth. WTI oil with November delivery gained 0,8% to $74,94 per barrel. Brent is traded for $85,02 per barrel. This week WTI and Brent oil gained 2,2% and 2,8% respectively.