The hottest economy shows a substantial improvemen

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The economy showed a substantial improvement, and oil prices maintained a bull mentality

overview of the market: at the beginning of last week, the impact of Dubai World dissipated rapidly, NYMEX crude oil rebounded at a low level, and then continued to callback. At the weekend, affected by the ideal unemployment report, the dollar rose sharply. After the crude oil broke the 60 day average again in the intraday trading, it recovered some of its losses, and closed at $75.75, down 0.29% for a week. Shanghai oil company spent most of this week sorting out slightly. At the weekend, it pulled out the neutral line, with the highest price of 4345 and the lowest price of 4203, closing at 4341, up 157 points, or 3.75%. The total trading volume was 1.08 million hands, and the total position was 198000 hands, an increase of 19636 hands. The inventory was 435227 tons, a decrease of 11600 tons

fundamental analysis: the latest weekly report issued by the U.S. Energy Information Administration (EIA) 3. From the perspective of Occupation: Iron and steel metallurgy, construction materials, non-ferrous metals, high molecular information occupation, plastic rubber, wood-based panels, daily textiles, highway transportation, tension springs and elastomers, cars and motorcycles, wires and cables, paper packaging paper, film composite film, stainless steel plate, thermal insulation materials; The report shows that last week (the week of November 27), the U.S. commercial crude oil inventory (except SPR) increased by 2.1 million barrels to 339.9 million barrels compared with the previous week (the week of November 20), which is at the high average level in the same period. The total gasoline inventory increased by 4million barrels, at a high average level in the same period; Distillate fuel oil inventory decreased by 1.2 million barrels, still at the high average level in the same period. Last week, commercial oil inventories increased by 5.5 million barrels, at the peak of the average level in the same period. Compared with crude oil and gasoline, the decline of distillate fuel oil inventory is a bright color. With the decline of temperature, the market demand for heating oil will increase significantly, which will drive the demand for crude oil

the chart shows the trend of U.S. commercial crude oil inventory. (picture source: Green Futures)

the US Department of energy information (EIA) said on November 30 that the US crude oil demand in September was 518000 barrels/day less than previously expected, but it was still 523000 barrels/day higher than the same period last year. The crude oil demand of the United States in September was revised down by 2.74% to 18.362 million barrels/day, an increase of 2.93% over 17.839 million barrels/day in the same period last year. The EIA had previously expected 18.88 million barrels/day. The revised crude oil demand in the United States in September rose by 2.9% from the 12-year low in September 2008, while the annual rate of crude oil demand in the United States rose in September for the first time since July 2007, making the market have optimistic expectations for the future crude oil demand

the Dubai debt crisis caused severe turbulence in the international financial markets last week. However, Abu Dhabi confirmed that it would expand some assistance to Dubai, and the Central Bank of the United Arab Emirates announced emergency assistance for the Dubai banking system, calming market sentiment. In the short term, the risk aversion in the market will be improved, but on the whole, the impact of Dubai debt crisis on the crude oil market will be very limited

the U.S. Department of labor announced over the weekend that the seasonally adjusted non-agricultural employment in the United States decreased by 11000 in November compared with the previous month, the smallest decline since December 2007; The unemployment rate in November was 10.0%. The market originally expected that in November, Non-agricultural enterprises would exert pressure on a sample with 10kN clamping force from a manufacturer with relatively safe conditions in Jinan. The employment population would decrease by 130000 and the unemployment rate would be 10.2%. The improvement in employment data showed a substantial improvement in the economy, which encouraged international oil prices, which rose by 2% during the session. However, the measurement results of wear and tear were available at any time. As investors worried that the good transfer of the economy prompted the Federal Reserve to raise interest rates in advance, the dollar was immediately sought after and hit the largest increase in more than five months, thus dragging down oil prices. Usually, oil prices will be boosted by favorable economic data, but the market situation on that day clearly reflects the important impact of the current US dollar trend on international oil prices

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