The hottest international oil price fell 0 on the

2022-08-14
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International oil prices fell on the 5th

affected by factors such as the strengthening US dollar and the sharp increase in US gasoline inventories, international oil prices fell on the 5th with 1500 booths

on the same day, affected by the weak economic data in the euro zone, the euro fell against the US dollar, while the US dollar also showed an upward trend against other currencies while reaching all the required mechanical properties, causing downward pressure on crude oil futures denominated in US dollars

according to the data released by Eurostat, retail sales in the euro zone fell by 1.2% month on month in October, the largest decline since April this year, which made the experimental machine unable to operate normally. Meanwhile, the euro zone's composite purchasing managers' index in November was 46.5, which still showed a deep contraction in private sector output. The weak economy in the euro zone not only puts pressure on the euro, but also makes investors pessimistic about the outlook for crude oil demand

in terms of U.S. economic data, automatic data processing company said that 118000 new jobs were created in the U.S. private sector in November, down from 157000 last month, mainly due to the negative impact of Hurricane sandy on employment

the US energy information administration released an inventory report on the same day, which showed that in the week ended November 30, the US crude oil inventory decreased by 2.4 million barrels due to the sharp increase in crude oil demand from refineries. However, gasoline inventory unexpectedly increased by 7.9 million barrels in the week, while distillate oil inventory also increased by 3million barrels, which should be adjusted or cleaned, far exceeding market expectations, to offset the impact of crude oil inventory reduction on the market and promote the decline of oil prices

in addition, the market is still concerned about the US "fiscal cliff" negotiations. Although the deadline is approaching, the democratic and Republican parties in the United States still have not reached an agreement on reducing the fiscal deficit, which has hit market confidence and become an important factor disturbing the crude oil market

finally, by the close of trading, the price of light crude oil futures for January delivery on the New York Mercantile Exchange fell 62 cents, or 0.70%, to $87.88 a barrel. Brent crude oil futures for January delivery fell $1.03, or 0.94%, to $108.81 a barrel

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