Jay Hatfield,CEO of Infrastructure Capital Management,said:”The winter in the United States and Europe is very warm,resulting in the decline of oil prices this month.In addition,with the strengthening of the US dollar,the stock price has dropped from a high point.The recent mixed data on inflation and the related hawkish Fed officials’comments have kept the oil price under pressure.”

The US benchmark West Texas Intermediate Crude Oil(WTI)futures for April delivery on the New York Mercantile Exchange rose$1.37,or 1.8%,to close at$77.05 per barrel.

According to the most active contracts,WTI crude oil futures fell by 2.3%in February,the fourth consecutive month of decline.