The hottest situation in the Middle East continued

  • Detail

The situation in the Middle East continues to be volatile, with U.S. crude oil hitting a new high in the year

the situation in the Middle East continues to be volatile, and U.S. crude oil hit a new high in the year if it is not used properly

July 3, 2013. Reading volume varies according to industry and position: Source: Huitong | contribution

[China paint information] international crude oil prices continued to rise sharply on Tuesday (July 2), with U.S. crude oil prices rising above $99 a barrel to a nine month high, The reason is that the tense situation in the Middle East makes investors uneasy. Libyan crude oil production has recently decreased by one third, due to the previous closure of several oil fields by demonstrators. At the same time, anti-government demonstrations in Egypt continue to escalate, and the new government, which has been in power for just a year, is teetering, which also makes people worried about the stability of the entire Middle East region

in addition, the substantial grass-roots and enterprise response to U.S. crude oil futures is also related to the reopening of BP's 413000 barrels per day whiting refinery last month The resumption of operation of the refinery is expected to help digest more Canadian crude oil shipped to Cushing, Oklahoma. The premium of Brent crude oil over U.S. crude oil once narrowed to less than $4, the narrowest level since the beginning of 2011, because some traders were eager to cover short positions, pushing oil prices up sharply

Brent crude oil futures in August rose by $1 to settle at $104.00 a barrel. In August, U.S. crude oil futures rose $1.61 to settle at $99.60 a barrel, rising to less than 13 cents from the psychological level of $100, the highest level since September 2012

after the close of trading, the American Petroleum Institute (API) announced that crude oil inventories in the United States decreased by 9.4 million barrels in the latest week; Gasoline inventory decreased by 183000 barrels and distillate oil inventory decreased by 2.3 million barrels, which pushed crude oil prices forward after hours and allowed commercialization to flourish further

Copyright © 2011 JIN SHI