Oil prices fell to U.S. benchmark hit its lowest level in five months on Tuesday

 Oil prices fell to U.S. benchmark hit its lowest level in five months on Tuesday (Wednesday morning GMT ) due to expectations that the country's Department of Energy will report another rise in weekly stockpiles .

Main contract , light sweet crude or West Texas Intermediate ( WTI ) futures for December delivery in New York fell 2.10 dollars to 93.04 dollars per barrel .

In London trade , Brent North Sea crude for December delivery lost 59 cents to 105.81 dollars per barrel , such as reported by AFP news agency .

New York oil prices are under pressure ahead of the official U.S. crude oil inventories for the week ending 8 November , which will be released on Wednesday morning local time .

Official data released last week showed U.S. commercial crude oil inventories rose in the seventh week , reaching 29.8 million barrels , indicating weak demand in the world's biggest economy .

Robert Yawger of Mizuho Securities USA OPEC also pointed to a new report that shows no loosening of supply and increasing global inventory buffer levels to 58.3 days since 2009 , compared with an average of 52.1 days of supply ahead of the 2008 financial crisis .

Traders continue to look for signs of a breakthrough in the West in an attempt to produce a nuclear deal with Iran that could lead to the lifting of sanctions against Tehran and release more oil into the global market .

But until there is some sign of strong progress , prices in London will remain relatively strong , analysts said .

" After the nuclear talks with Iran on hold with no result at the weekend , it is clear that the expectation is buried by the market participants that the supply of Iranian oil would soon return to the market is premature , " said Commerzbank analyst Carsten Fritsch .

" Moreover, the situation in Libya continues to give little reason for optimism that the country's oil production may return to normal in the future , " he added .

In Vienna , the Organization of Petroleum Exporting Countries ( OPEC ) raised the estimate for global oil demand this year , due to the improvement in the economic recovery in developed countries .

In its monthly report , OPEC raised its estimate for demand this year by 400,000 barrels per day to 89.78 million barrels per day - and maintains its forecast at 90.78 million barrels per day for 2014 . ( Ant/.