The hottest international oil price rises with com

International oil prices rise with commodities

international oil prices rise with commodities

October 11, 2010

[China paint information] data from the U.S. Department of labor showed that the United States reduced employment by 95000 people in September. After the data of the Ministry of labor was released, the international oil price once fell by 1.7%. However, the rising unemployment rate in the United States led to the further implementation of quantitative easing in the United States, and crude oil rose along with U.S. stocks and other commodities. At the close of Friday, the November futures settlement price of light crude oil on the New York Mercantile Exchange was $82.66 a barrel, up $0.99 from the previous trading day; London Intercontinental Exchange Brent crude oil November futures settlement price of $84.03 a barrel, up $0.60; October heating oil futures in New York were 228.19 cents per gallon, up 3.01 cents; Rbob gasoline futures in October were 215.12 cents per gallon, up 3.32 cents; London Intercontinental Exchange October Chai these guide holes can keep the flame stable combustion oil futures $721.75 per ton, up $0.75

in the past week, the first month futures of light and low sulfur crude oil on the New York Mercantile Exchange rose $1.08, or 1.32%

according to the settlement price of the New York Mercantile Exchange, the "3-2-1" profit of refining three barrels of crude oil into two barrels of gasoline and one barrel of heating oil on Friday was $9.520 per barrel, up 7.6 cents from Thursday

according to the latest news, the package price of OPEC calculated by the weighted average price of 12 OPEC member states on October 7 was US $81.07 per barrel, down US $0.44 from the previous trading day

it can be said that oil market participants were worried that the decline in the employment rate in the United States would lead to a reduction in demand, so they took profits before the release of the employment data of the labor department in September. "The employment data is bad. The Federal Reserve has said that the economy will not recover effectively until the employment market recovers," said Frain, an analyst and trader at Bailey in Chicago

however, speculators took every opportunity to push up the stock market and commodity futures prices. On Friday, the Dow Jones index broke through the 11000 mark for the first time since May 3, and the gold price rebounded after falling on Thursday. The Reuters CRB index covering 19 commodities was 295.11, up 2.7% from Thursday, the highest level since October 2008, and all 19 commodities rose. In such an atmosphere on the morning of December 12, international oil prices rose accordingly

Reuters reported that the unexpected decline in U.S. non-agricultural employment hit the dollar. However, we observed that the US dollar exchange rate did not rise as expected. The euro was stable at $1.3928 against the US dollar in late trading on Friday after Jacques, chairman of the euro group, said before the G7 finance ministers and central bank governors' meeting that the euro/US dollar was too high at $1.40

therefore, we believe that if the exchange rate of the US dollar against the euro does not continue to decline, there is no room for further increase in international oil prices

due to the increase in U.S. crude oil inventories and the decrease in oil consumption, most analysts expect the international oil price to fall next week. Bloomberg news, but all of them are parameters that eventually constitute the effect ranking during the query validity period. 17 of the 33 analysts surveyed by Wen she believed that crude oil futures fell in the week ending October 15, accounting for 52% of the respondents. 12 people predicted an increase, and 4 people predicted no change. Last week, 42% predicted that oil prices would rise this week

U.S. crude oil inventories increased by 3.09 million barrels, 13% higher than the average level in the same period of five years, while fuel consumption averaged 18.5 million barrels a day, down 6.4%, the largest weekly decline since February 27, 2004. Evans, an energy analyst at the futures Department of Citibank in New York, believes that inventories are higher than the same period last year, and even if demand is higher than the same period last year, oil prices are also more than $10 higher. According to current demand, the recent rise in oil prices is not appropriate

demand fell seasonally, and crude oil inventories, including offshore floating warehouses, also increased. According to the statistics of ICAP shipping, a shipping agency of Yilian Huiye, as of the week of October 8, the oil storage capacity of VLCCs, including Iran, was 36million barrels, an increase of 4million barrels over the previous week. But except Iran, there are only two oil storage giant ships

according to the latest news, the package price of OPEC calculated by the weighted average price of 12 OPEC member states on October 7 was US $81.07 per barrel, down US $0.44 from the previous trading day