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Is the decline in crude oil futures affected by the oversupply of crude oil?
1, crude oil is denominated in dollars, so it indirectly reflects the rise and fall of the dollar. High crude oil prices bring inflation to countries, so the rise and fall can reflect some fundamentals of the global economy. However, if crude oil rises, it means that there is a great demand for global economic prosperity. Sometimes, it is worried that the demand will decrease after the global economic recession, and its commodity attributes, such as being linked to gold, will fall.

2. Investors are worried about the political uncertainty in Greece, and the market expects the European Central Bank to expand its economic stimulus plan in the near future. The ICE dollar index hit a nine-year high of 9 1.78. Usually, the rise of the US dollar exchange rate will lead to the decline of commodity futures prices denominated in US dollars, because the cost for investors holding other currencies to buy these commodities will become higher.