International oil prices keep falling down

Under British exit from the euro referendum impact event, and this week, international oil prices falling more than 7% on Friday. But the past two days, the rapid rise of international oil prices, continuous rise more than 6%. As Beijing on June 30 Ri 18: 30, NYMEX crude oil futures August contract rose to 49.39 dollars a barrel, Brent crude oil futures contract in September to $ 50.83 a barrel, above the $ 50 mark to return almost completely recovered British referendum on Europe off after the announcement of the results recorded in decline.

Haitong Securities petrochemical futures researcher Mao Jianping said, after oil prices fell, with the first six months of the oil price rise, June 10 the week to increase the number of oil rigs active 3-328, increasing for the second consecutive week, increasing the supply of risk very Great; secondly, the British retreat Europe and other geopolitical uncertainties caused, full access to the global market “risk model”, so long profit-taking; In addition, major oil producers to limit production problems did not reach any agreement, competition is heating up , weighed on oil prices.

As for the rapid rise in crude oil, the industry pointed out that the market panic gradually calm down, US crude oil inventories plunged news and incentive funds to return to the oil market. Boseong futures researcher Chen Dong pointed out that, although the results of the referendum on Friday, the British unexpectedly retreat Europe, international oil prices fell sharply in the short term, but with the release of negative factors, oil prices began to return to the strong side of the supply and demand environment. Its rise for four reasons: First, on the demand side, currently North America is in the peak summer travel season, oil is expected to rebound in the short-term prospects for consumption; and the supply side, the global supply production fell by US interference and ease the market oversupply, data showed US crude oil inventories fell last week, March 11 the lowest level since the week.

Shiyuan goldsmith researcher Wangshou Kai also said that oil prices recently rose twice, mainly because the market for British retreat Europe fears eased. Before the crash is actually panic selling, there are natural hunters admission funds after the collapse, not only crude oil, other markets also rebounded confirmed this point. Crude oil inventories plunged positive, but also one of the main push up crude oil. In addition, the Norwegian oil production is likely to be limited because of the country’s labor if the parties can not reach a new wage agreement at local time on July 1 before midnight, then possible strike action, which also contributed to higher oil prices.

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