The international oil price fell in light trading

2022-09-22
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International oil prices fell in light trading on Monday

international oil prices fell in light trading on Monday

January 18, 2011

[China paint information] OPEC believes that the rise in international oil prices is due to speculation and the depreciation of the dollar, the Alaska crude oil pipeline accident is only a temporary event, and the world's oil supply is abundant. With the complete restart of the Alaska crude oil pipeline on Monday, international oil prices fell in light trading. The New York Mercantile Exchange was closed on Monday, a public holiday in the United States, but electronic trading was normal. At the close of Monday, the February light crude oil futures on the New York Mercantile Exchange were trading at $991.02 a barrel, down $0.52 from the previous trading day; London Intercontinental Exchange Brent crude oil futures in February settled at $97.43 a barrel, down $0.95; London Intercontinental Exchange February diesel futures fell $1.00 to $810 per ton

on January 8, the 800 mile oil pipeline in Alaska was closed due to oil leakage, and then temporarily restarted in order to prevent freezing. On Saturday, the pipeline was closed again, and a diversion pipeline was installed near the leaking pipeline. The operation was fully resumed on Monday, and the crude oil transportation capacity reached 500000 barrels per day within 24 hours

Shino Tanaka, chairman of the International Energy Agency, said in an interview using the principle of heat balance and circular mixing at the Renewable Energy Summit held in Abu Dhabi, the United Arab Emirates, on Monday that the current oil price has been at the warning line, and OPEC must continue to be vigilant about the future. If the economic recovery of OECD member countries leads to a rebound in demand, while the demand of emerging countries increases rapidly, we can see the risk of rising oil prices

Fatih Birol, chief economist of the International Energy Agency, said on Monday that if the crude oil price rises to $100 a barrel, developed economies will again face the pressure of high oil prices during the 2008 crisis. He said that if the oil price remained around $100 in 2011, the proportion of crude oil import cost in the gross domestic product (GDP) of the United States would reach 2.6%, which is very close to the curve of 2.8% in 2008; The proportion of European crude oil import cost in GDP will rise to 2.2%, which is completely consistent with the level in 2008

but OPEC Secretary General Badri believes that OPEC will not intervene in the market because of speculation. First of all, we need to wait and see the trend of oil prices. If the market loses the balance that equipment manufacturing is the pillar industry of the national economy, OPEC will take action to stabilize the market. We believe that the market may be tightening, the demand will increase temporarily at the end of 2010, and the oil market is "very scarce"

in its monthly report on Monday, OPEC estimated that world oil demand increased by 1.6 million barrels per day in 2010, up 130000 barrels from the previous report. Growth in heating and fuel consumption in December offset the impact of weaker transportation fuels. The world economy is more dynamic than expected, and oil demand and consumption are increasing. However, this increase is partly due to low consumption in 2009. It is estimated that the world oil demand will increase by 1.2 million barrels per day in 2011, which means that 50000 barrels have been repaired compared with the previous report. The continuous growth of the global economy is the reason for the growth of world oil demand in 2011

in the recent week, the net long positions held by speculators in light crude oil futures on the New York Mercantile Exchange increased by 1.8%. According to the latest statistics of the U.S. Commodity Futures Commission, as of the week of January 11, the positions in crude oil futures on the New York Mercantile Exchange increased by 30362. Large speculators held 169085 net long hands in crude oil futures on the New York Mercantile Exchange, an increase of 19619 hands over the previous week. Among them, 6111 hands were increased for multiple heads; Short positions decreased by 13508

according to the new classification, as of the week of January 11, the net long positions held by the management fund in the crude oil futures of the New York Mercantile Exchange increased from 175862 hands in the previous week to 1956. The sample returned to the starting position of * 55 hands, an increase of 11%, of which the long positions increased by 10195 hands; Short positions decreased by 9598. The net long positions held by managed funds in light and low sulfur crude oil futures on the London Intercontinental Exchange decreased from 28613 to 17187 in the previous week, a decrease of 40%, of which the long positions decreased by 8025; Short positions increased by 3401 hands. Global crude oil inventories in floating warehouses continue to increase. According to the statistics of ICAP shipping, a shipping agency, the oil storage capacity of VLCCs including Iran was 43million barrels in the week ended January 14, a decrease of 2million barrels from the previous week. The agency believes that at present, Iran's state-owned tanker company has 9 VLCCs that store crude oil for a long time, while 10 VLCCs and a suezmax tanker are rented to store crude oil for a short time or sail at sea

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