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Imprisoned in international oil prices: stock high demand

Imprisoned in international oil prices: stock high demand

just to show rebound in international oil prices, fell back again and crossing.  

the market close on November 12, the International crude oil futures prices fell for two consecutive trading days, and fell to the lowest since August, on the other hand, crude oil price and the closing price on October 1 of the current flat, which means that after more than a month after the shock of oil prices returned to the low base price in the fourth quarter, as evidenced by weak.  

many industry insiders said in an interview with the 21st century business Herald, led to sharp drop in oil prices causes mainly is caused by the current glut of crude oil, the current inventories of crude oil had reached a high of 80 years. 

oil prices again tumbled

October had experienced a strong rebound in international oil prices, also is in the market for its official meet the rebound on the timing of the debate, again fell into a slump.

as of market close on November 12, the New York Futures Exchange-WTI12-month crude oil futures contract closed down $ 1.18, to $ 41.75 a barrel, or 2.75%, while London ice Brent crude for December futures contract closed down $ 1.75, to $ 44.06 a barrel, or 3.82%.  From the time period of the year as a whole, have 5 appearances in international oil prices dip, and according to the laws of previous years, usually two dip in oil prices in a year already belongs to a rare condition.

"the current international oil price risk is not low price, but a serious lack of positive factors in the market, support to force potential could not be found, said oil prices are in the embattled situation too much. "Long audience petrochemical network analyst said in an interview with the 21st century business Herald Li Yan," the recent decline in core bad mainly because United States crude oil inventories increased for seven consecutive weeks, 4.22 million barrels increase far exceeded expectations, and Cushing stocks rose 2.237 million barrels. The other hand, continue without reduction of positions in Saudi Arabia, OPEC report acknowledges that real output over the ceiling. At present, dealers oversupply situation and prospects for next year are also very worrying, exceptionally weak market sentiment. "

in fact, high inventories of crude oil have become restricted oil prices the most important, and most concerns that one of the factors. On November 12, the United States energy information administration EIA data showed, as of November 6 United States commercial crude-oil inventories (excluding the strategic petroleum reserve) 487.03 million barrels, close to April hit all-time high of 490 million barrels, while rose 4.22 million barrels a week earlier, far exceeding the followed a 1.1 million barrels expected by analysts. "The current crude inventory levels at least for the past 80 years the highest level.  "Li Yan told the 21st century business Herald reporter.  

according to the Organization of petroleum exporting countries OPEC monthly report notes that keeping production in October, global daily surplus of about 560,000 barrels next year, although the report predicts decline in value of 750,000 barrels a day from the previous month, market oversupply problem will continue.

crude inventories in developed economies now for over 5 years on average, about 150 million barrels, occurred for the first time since the financial crisis of 2008.  The OECD (OECD) economies crude inventories for more than 5 years on average, nearly 210 million barrels, higher than the 180 million barrels in early 2009.

in addition to the supply side, oil demand is similarly worrying.  A Shanghai oil traders, Mr LI told the 21st century business Herald reporter, current United States and high crude inventories reflect the overall consumption in Europe far from strong levels, while such important regional economic slowdown in consumption in China and Asia, also dragged down the market's confidence in the Outlook for demand.

Meanwhile, the OECD (OECD) has released in recent days warned that the slowdown in international trade could lead to the world's leading economies back into recession, global trade data is a matter of deep concern.  This year, the downturn in global trade has dropped dangerously close to the global level.

"overall, the current supply and demand continues to be market traders weigh key high United States crude inventories is the current strong evidence of the need for strong or weak pattern. United States 9-10 months after the end of the traditional low season, inventories increased rather than decreased, recent up Cushing stocks are directly the weight WTI. Meanwhile economic weakness in China and Asia, demand-side cannot expect to make a lot, making traders fears of aggravating.

at present oil prices near the $ 40 mark time again, OPEC is still not obvious designer position, it said in a monthly report, October 31.38 million barrels of its capping of well over 30 million barrels a day, cause bad swelling against killing of oil. "Li Yan told the 21st century business Herald reporter.

 

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