China + EIA = Lower oil - WSJ

"Market-risk assets in general are being affected by the news out of China, that it is tightening its monetary policy," said Brad Samples, analyst with Summit Energy in Louisville, Ky.

Equity markets were also down sharply as investors moved out of risky assets and headed into the safety of Treasurys and the dollar, which briefly hit a near nine-month high against the euro.

Ongoing worries about the economy are also still stemming from European debt problems, specifically the inability of European leaders to offer a firm commitment to plans for a Greek bail-out. The euro-zone also reported disappointing GDP figures, showing growth of just 0.1% in the fourth quarter, compared with 0.4% in the third quarter.

Data from the U.S. Energy Information Administration on Friday reinforced oil's move lower, said Samples. Crude stocks rose 2.42 million barrels last week, more than the 1.3-million-barrel gain analysts surveyed by Dow Jones forecast. The data was delayed from Wednesday due to snow storm-related shutdowns of government offices in Washington D.C.

http://online.wsj.com/article/BT-CO-20100212-711821.html?mod=WSJ_World_MIDDLEHeadlinesEurope