Breaking through $98 in the hottest session, crude

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After breaking through $98 in the session, New York crude oil futures fell back after rising on Wednesday.

as the decline of US crude oil inventories was lower than expected, New York oil prices fell back after hitting a new high on Wednesday. At the close of trading on Wednesday, December light crude oil futures on the New York Mercantile Exchange were $96.37 a barrel, down $0.33 from the previous trading day; London Intercontinental Exchange Brent crude oil December futures was $93.24, down $0.02; New York heating oil December futures rose 0.97 cents to 261.75 cents per gallon; Rbob gasoline December futures were 244.06 cents per gallon, up 0.56 cents; November diesel futures on the London Intercontinental Exchange were $832 per ton, up $5.00 from the previous trading day

on Wednesday, Asian benchmark crude oil spot followed western crude oil futures to a new high. Dubai crude oil delivered in February closed at US $88.35 per barrel, up US $2.17 from the previous trading day. In February, Brent/Dubai crude oil swap price difference per barrel was USD 6.05, and wti/Dubai swap price difference per barrel in February was USD 7.95

on Tuesday, the estimated price of gasoline in Singapore market was US $103.05 per barrel, up US $2.80 from the previous trading day. The market evaluation price of diesel oil was US $108.25 per barrel, up US $3.15 from the previous trading day

on Wednesday, the settlement prices of crude oil futures and refined oil futures on the Tokyo Mercantile Exchange rose in an all-round way. In November, crude oil futures closed at 63580 yen per cubic meter, an increase of 1470 yen over the previous trading day, with 164 trading volumes; In December, the closing price of gasoline futures was 71640 yen per cubic meter, up 2130 hands compared with the settlement price of the previous trading day, and the trading volume was 265 hands; In December, kerosene futures closed at 81270 yen per cubic meter, down 1300 yen from the settlement price of the previous trading day, with 736 trading volumes

the settlement price of fuel oil futures in Shanghai Futures Exchange rose in an all-round way, the trading volume increased and the position decreased. The settlement price of futures in December was 3864 yuan per ton, an increase of 33 yuan over the settlement price of the previous trading day. In March, 2008, the settlement price of futures was 3934 yuan per ton, an increase of 97 yuan over the settlement price of the previous trading day. In January 2008, the futures trading was active, the opening price was 3926 yuan per ton, the trading volume was 116634 hands, and the position was 53622 hands; Compared with the previous trading day of various mechanical properties experiments on various types of wood-based panels and decorative wood-based panels, 18124 hands were reduced, and the closing price in the afternoon was 3916 yuan per ton; The settlement price is 3921 yuan per ton, 56 yuan higher than the settlement price of the previous trading day. The trading range is 390 yuan per ton. It is expected that the proportion of high nickel 3 yuan materials will gradually increase in the future

according to the report of the US Department of energy, the US crude oil inventory fell by 821000 barrels in the week of November 2. The decline was much lower than the previous 1.5 million barrels predicted by Bloomberg analysts. The inventory of distillate oil (including heating oil and diesel) unexpectedly increased by 98000 barrels, after analysts had predicted a decrease of 450000 barrels

Chip Hodge, executive director of MFC global investment management in Houston, said: "the report of the Department of energy does not constitute a driving force to push the oil price to the $100 mark. There should be other events to push up the oil price in the next few days."

Kyle Cooper, research director of advisors in Houston, said: "the report of the Department of energy shows that the inventory has only decreased slightly, while the report of the American Petroleum Institute shows that the inventory has increased significantly. At this time in previous years, the distillate oil inventory usually decreased, and this year's anti seasonal rise is due to the steady fuel demand." The American Petroleum Institute showed that US crude oil inventories increased by 2.34 million barrels last week

crude oil futures for December delivery in New York on Wednesday fell by US $0.33, or 0.3%. During the session, as the exchange rate of the US dollar against the euro hit a new low, the oil price once exceeded US $98 to US $98.62 per barrel. The oil price is 64% higher than the same period last year

the report of the US Department of energy also shows that the US gasoline inventory fell by 819000 barrels last week. As of the first four weeks of November 2, the total potential oil demand in the United States was 20.7 million barrels per day, a decrease of 0.1% over the same period last year. This data is obtained from the statistics of refinery shipments, oil pipeline transportation and oil port handling volume by the U.S. Department of energy

the US dollar benchmark price of West Texas light crude oil has increased by 58% this year, and the prices in Euro, pound and yen have increased by 43%, 42% and 48% respectively

according to the report released by the US energy information administration, the global daily demand in the fourth quarter is expected to be 87.45 million barrels, an increase of 40000 barrels compared with its previous forecast, and the forecast for the average oil price in 2007 is also raised to $79.92. In addition, the IEA said that after 2010, China will surpass the United States and become the world's largest energy consumer

in an interview on Tuesday, Kuwaiti oil expert tabaziri said that since the beginning of the year, the exchange rate of the US dollar against the euro has dropped significantly, and the depreciation of the US dollar is the primary factor in the current rise in oil prices. As long as the dollar continues to weaken, especially the growing shortage of fossil energy such as oil, oil prices will soar. He predicted that the international oil price would soon break through the $100 per barrel mark. If the tension between the United States and Iran intensifies next year, the oil price may rise to $120 a barrel

Michael Lynch, chairman of the US Institute of strategic energy and economics, said: "in the long run, the weakness of the US dollar will have a comprehensive impact on energy. It makes OPEC more willing to keep the current oil price at a high level. In addition, the cost of using energy in Europe will also become lower. On the other hand, because of stimulating US inflation, the Federal Reserve may consider raising interest rates again."

BusinessWeek recently said that many factors may pierce the foam in the current accelerated promotion of overheated oil in key functional material projects. Once the foam bursts, the oil price will fall faster than when it rises. For example, speculators who play an important role in the rise of oil prices may withdraw from the market as soon as possible after the oil price breaks through $100 or shows signs of decline

according to the latest news, the package price of OPEC calculated by the weighted average price of 12 OPEC member states on November 6 was US $89.13 per barrel, up US $1.00 from the previous trading day

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