Date: 2007-0 1-20 Author: Chen Source: Oriental Morning Post
The international oil price of 18 fell to a new low since May 2005, and once fell below the $50 mark. Yesterday, in electronic trading in Asia, new york oil price dropped by 65,438+02 cents to 50.36 USD/barrel. So far, the international oil price has fallen by about 20% this year.
The $50 position that was once regarded as "impossible to be broken" is really going to be "lost" this time.
18, the futures price of light crude oil for February delivery in the New York Mercantile Exchange fell by 1.76 USD per barrel to close at 50.48 USD, the lowest point in 20 months. The intraday oil price once fell below the $50 mark and fell to $49.90. Brent crude oil futures for March delivery on the London International Petroleum Exchange fell 1.03 cents per barrel to close at $5 1.75. Yesterday, in electronic trading in Asia, new york oil price dropped by 65,438+02 cents to 50.36 USD/barrel.
According to the report released by the US Department of Energy on the same day, in the week ending June 5438+1October 12, US crude oil inventories increased by 6.8 million barrels, which greatly exceeded market expectations. Gasoline inventories increased by 3.5 million barrels; Inventories of other refined oil products such as heating oil and diesel oil increased by 900,000 barrels.
Insiders pointed out that the continuous warm winter weather in some parts of the United States reduced the consumption demand of heating oil in the United States, which led to a substantial increase in crude oil inventories in the United States, which was the main reason for the decline in oil prices that day.
Liu Yuelai, an analyst in the R&D department of Du Nan Futures, told the Morning Post that the plunge in oil prices was mainly driven by six factors: first, the weather factor, and the warm winter climate led to a decline in the demand for heating oil in the United States; Second, the dollar rebounded sharply. Generally speaking, the dollar is negatively correlated with oil prices. Third, the output reduction target of the Organization of Petroleum Exporting Countries has not been achieved. The original plan was to reduce production by 6.5438+0.2 million barrels, but only by 500,000 barrels. Fourth, the inventory of refined oil products in the United States has increased substantially; Fifth, the economic growth of the United States has slowed down; Finally, international funds are bearish on the crude oil market on a large scale, and more than 30,000 empty orders have been added in the past two weeks.
Surprisingly, despite the "diving" pattern of oil prices, jim rogers, an investment guru, said recently that after this round of "adjustment", oil prices will continue to rise to the high of 100 USD.
Rogers successfully predicted the commodity super bull market since 1999, and he has been supporting the long-term bull market of oil, metals and grain.