U.S. crude oil inventories grow, international oil prices rapidly fall back

The Asian trading session on Wednesday was hoped to be resolved in the European debt crisis, and international oil prices climbed once. However, the growth rate of U.S. crude oil inventories was larger than expected, and international oil prices quickly fell back. At the close of trading on Wednesday, the New York Mercantile Exchange's light crude oil in December ** settled at US$90.2 per barrel, a decrease of US$2.97 from the previous trading day; London Intercontinental Exchange Brent crude oil in December ** settled at US$108.91 per barrel. , fell 2.01 US dollars; New York heating oil November ** 30.158 cents per gallon, down 3.44 cents; RBOB gasoline November ** 265.16 cents per gallon, down 4.82 cents; London Intercontinental November diesel ** per Ton 954 US dollars, down 3.00 US dollars.

According to the settlement price of the New York Mercantile Exchange, the “3-2-1” profit of three barrels of crude oil refined into two barrels of gasoline and a barrel of heating oil was US$26.266 per barrel on Wednesday, an increase of US$1.139 over the previous trading day.

Wednesday Brent crude oil prices in recent months increased to $18.71 per barrel in New York's premium crude oil price in recent months, while in September the gap exceeded US$28 per barrel.

The weekly survey report released by the U.S. Department of Energy shows that the dramatic increase in oil imports has boosted crude oil inventories by 4.7 million barrels last week. In the past week, U.S. crude oil imports surged by 11 million barrels, and the increased imports were mainly concentrated in the Gulf region and the western coastal areas. It is worth noting that the crude oil inventories in the Cushing area have increased by 1.4 million barrels for three consecutive weeks, which has dampened the market atmosphere of the New York Mercantile Exchange's light crude oil market.

US gasoline and diesel stocks declined. US Energy Information Agency data show that as of the week of October 21, US gasoline inventories have decreased by 1.35 million barrels, and ultra-low* diesel has reduced by 3.6 million barrels. However, the operating rate of the refinery increased by 1.7% after four consecutive declines, and the distillate production increased. Despite the increase in total oil demand in the United States, the four-week demand is still 0.7% lower than the same period of last year. In the past week, the total oil demand in the United States increased by 555,000 barrels per day in the previous week; of these, US gasoline decreased by 97,000 barrels; daily average demand for distillates increased by 65,000 barrels.

Over the past few months, U.S. crude oil inventories have shown a downward trend. Compared with the highest inventory in May, U.S. crude oil inventories have fallen by 36 million barrels.

Since October, relevant information on the solution to the European debt crisis has caused the euro and oil prices to fluctuate greatly. The New York Mercantile Exchange's light crude oil prices rebounded by 16% in recent months from the low of early October. The euro zone statement draft shows that European leaders plan to double leverage the European Financial Stability Tool (EFSF), while European sources said that EFSF leverage will be leveraged four times. However, some analysts believe that using leverage to solve the huge debt problem will have serious consequences. The bailout, which doubled from the original 250 billion euros to 1 trillion euros, will eventually flow into the financial system and will push up asset prices. On Wednesday, the German parliament’s House of Commons approved a motion to use leverage to expand the scale of the euro zone’s bailout and pay the German Prime Minister Merkel’s authorization to discuss the matter at the EU summit. Late in New York, the euro exchange rate fell.

The European debt crisis has caused the economic crisis in the euro zone. According to market research agency Markit, the initial value of the Markit manufacturing purchasing managers index for the euro zone in October was 47.3, lower than the expected 50 and the previous value of 48.8, the lowest level since July 2009. The data released by Eurostat last weekend showed that the government’s fiscal deficit in GDP of the euro zone’s member countries increased to 6.2% in 2010, and the government’s debt to GDP ratio was raised to 85.4%, much higher than the euro zone’s deficits and debts to member countries. The upper limit of 3% and 60% of GDP is also higher than the initial value of 6.0% and 85.1% announced in April.

In terms of economic data, data released by the United States showed that US durable goods orders fell by 0.8% in September from the previous month, basically in line with expectations.

At the same time, sales of pre-sale homes in September increased by 5.7% from the previous month, the first increase in five months, but prices continued to decline. The market is waiting for the initial jobless claims announced by the United States on Thursday and preliminary estimates for the third quarter GDP. Analysts estimate that the third quarter GDP growth in the United States can reach 2.5%, the largest increase in a year.

Wednesday, Burj Khalifa, no comment from the Asian market, OPEC basket of oil prices delayed.

On Wednesday (October 26), the settlement price of fuel oil ** on the Shanghai ** Exchange generally rose, the trading volume decreased, and the open interest decreased. November 2011 ** settlement price of 4890 yuan per ton, compared with the previous trading day settlement price rose 180 yuan. February 2012 **Settlement price No transaction. In December 2011, the trading activity was active. The opening price was 4849 yuan per ton. The trading volume was 1534 lots and the hand positions were 11,142 lots. It was 316 lots lower than the previous trading day, and the closing price was 4837 yuan per ton in the afternoon; the settlement price was 4844 yuan per ton. Compared with the previous trading day, the settlement price fell by 4 yuan and the trading range was 4835-4859 yuan per ton.

On Wednesday (October 26), crude oil and refined oil in the Tokyo Commodity Exchange fluctuate. October crude oil ** settled at 50,530 yen per cubic meter, down 0 yen from the previous trading day, volume - hand; November gasoline ** closed at 62530 yen per cubic meter, compared with the previous day's settlement price The price of kerosene ** settled at RMB 16,430 per cubic meter in November, down by 10 yen from the previous day's settlement price, and the transaction volume was 190 lots. The November diesel ** settlement price fell by 140 yen. At 64,000 yen per cubic meter, it was 100 yen higher than the previous trading day, and the trading volume was 2 lots.

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