Influencing factors of international oil price: political events: if some major political events occur in major countries that buy and sell crude oil in the international market, it will have a greater impact on crude oil prices; Inventory change: if the inventory of countries selling crude oil decreases in a certain period of time, the price of crude oil will rise sharply; Institutional intervention: some crude oil-related institutions will have an impact on international oil prices, such as the International Energy Agency; Exchange rate changes: exchange rate changes in some countries will directly affect international oil prices, such as the United States, because many petroleum products are directly priced in US dollars.
1, the international crude oil index has formed three major markets in North America, Europe and Asia. What are the world crude oil transactions? Every market has price index crude oil, namely WTI crude oil, Brent crude oil in the North Sea and Dubai crude oil produced in the Middle East. Among them, the best quality is WTI crude oil futures price. WTI refers to West Texas light crude oil, which is a common crude oil futures price in North America. Due to the global military and economic capabilities of the United States, WTI crude oil has become the benchmark for global crude oil pricing. On April 20, 2020, the price of light crude oil futures for May delivery in the New York Mercantile Exchange, which expired on April 2 1, fell by 305.97% to close at $37.63; Light crude oil futures for June delivery also fell sharply 18.37% to close at $20.43 per barrel. At the same time, London Brent crude oil futures for June delivery fell 2.565438 US dollars +0 to close at 25.57 US dollars per barrel, a decrease of 8.94%. On April 2 1 day, local time, the futures price of light crude oil for June delivery fell sharply again, once falling below $0/2 per barrel, with a drop of more than 40%.
2. Crude oil futures are the most important oil futures in the world. The most important oil futures contracts in the world mainly include the New York Mercantile Exchange's light and low-sulfur crude oil, namely "West Texas PetroChina" futures contract and high-sulfur crude oil futures contract, London Brent crude oil futures contract, international oil exchange and Singapore Stock Exchange Dubai sour crude oil futures contract. The main grading indexes of world crude oil are API degree (divided into light, medium and heavy crude oil according to API value) and sulfur content. In the existing crude oil reserves, medium and heavy crude oil is higher than light crude oil. According to the classification of sulfur content, low sulfur crude oil only accounts for 17%, sulfur crude oil accounts for 30.8%, and high sulfur crude oil accounts for 58%. So what is the international crude oil index? The international crude oil index mostly adopts the synthesis method of the main contract of NYMEX light and low sulfur crude oil futures contract. When1-1February is the main contract, the crude oil index is quoted at the price of that month.
3. Oil index is also called crude oil index. The international crude oil index is based on light and low sulfur crude oil futures contracts. When the contract becomes the main contract, the price of the international crude oil index is the contract price. International crude oil trading can be divided into three markets: North America, Europe and Asia. Among them, North American West Texas light crude oil is the best crude oil futures. In addition, there are Brent crude oil in the North Sea and Dubai crude oil produced in the Middle East. These three crude oils are isomorphic to form the international oil price index. Crude oil refers to oil that has just been mined and has not been treated. Crude oil is generally dark brown with fluorescence. At the same time, crude oil will have obvious smell. In China, Shen Kuo in Song Dynasty discovered the unique value of oil and predicted the future crude oil market. Countries all over the world have started to use oil, and the market share of coal fuel, which was widely used, has been declining.