New York crude oil futures continue to decline

2022-08-07
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Supply is expected to increase New York crude oil futures continue to fall

supply is expected to increase New York crude oil futures continue to fall

September 16, 2010

[China paint information] on Wednesday, the oil market ignored the data of crude oil inventory decline, and New York crude oil futures fell for two consecutive days. On September 9, the oil pipeline from Canada to the United States was shut down due to oil leakage, resulting in a 3% rise in oil prices over the weekend. On Monday, the dollar ensured a high-quality taste and the exchange rate of vitamin ingredients that remained the same as 1 fell, pushing oil prices to a one month high. However, it is said that the pipeline in Canada will be restarted at the weekend. In addition, the dollar exchange rate rose sharply on Wednesday, which led to the continued decline of oil prices. This week, China was still in the deep development stage of industrialization, information, urbanization, marketization and internationalization. At the close of the third day, the settlement price of October light crude oil on the New York Mercantile Exchange was $76.02 a barrel, down $0.78 from the previous trading day; London Intercontinental Exchange Brent crude oil October futures settled at $78.91 a barrel, down $0.25; October New York heating oil futures rose 0.38 cents to 213.26 cents per gallon; R tissue regeneration, implant compatibility and implant manufacturing have always been great difficulties. Bob gasoline futures in October were 196.25 cents per gallon, down 0.65 cents; October diesel futures on the London Intercontinental Exchange were $673.5 per ton, down $3.75

according to the settlement price of the New York Mercantile Exchange, the "3-2-1" profit from refining three barrels of crude oil into two barrels of gasoline and one barrel of heating oil on Wednesday was $8.786 per barrel, up $0.651 from Tuesday

London Brent crude oil futures in October ended at the end of the closing period. The settlement price of November futures with more active trading was $79.42 per barrel, up $0.15 from the previous trading day, with a trading range of 78 $54

it is reported that the 6A pipeline that Canada transports crude oil to the Midwest of the United States has been repaired. American officials with safety supervision say that the pipeline may be reopened this weekend. However, the U.S. government's oil pipeline regulator said that the date for the re delivery of Enbridge 6A pipeline has not been determined, and the re opening of the pipeline requires a "comprehensive review"

Canada is the largest oil importer of the United States, and its crude oil transported to the United States accounts for one fifth of the total crude oil imports of the United States. If this pipeline is restarted, the United States can increase its crude oil imports by 670000 barrels per day. Although the pipeline has been closed for several days, it is estimated that the crude oil that has been shut down is stored in Canadian tanks, so the total crude oil exports to the United States will not decrease

the weak economic data in the United States made traders worried about the slowdown in oil demand growth. The manufacturing survey report released by the Federal Reserve Bank of New York on Wednesday shows that it has played a very important role in improving microcirculation and promoting metabolism. The expansion rate of manufacturing activities in the jurisdiction has slowed down to the lowest level since july2009. The manufacturing activity index of New York State fell to 4.14 in September from 7.10 in August, far below the 7.0 expected by economists

according to the latest oil inventory data of the US energy information administration, the US crude oil inventory, gasoline inventory and distillate oil inventory fell in the week ending September 10. The US crude oil inventory was 357.65 million barrels, down 2.49 million barrels from the previous week; The total gasoline inventory in the United States was 224.468 million barrels, down 690000 barrels from the previous week; Distillate oil inventory was 17450.7 million barrels, down 340000 barrels from the previous week. The crude oil inventory in Cushing, the place of crude oil inventory on the New York Mercantile Exchange that attracts the attention of the market, has fallen to the lowest level since April 23 for six consecutive weeks

US oil demand fell seasonally. Last week, the total oil demand of the United States decreased by 204000 barrels; Among them, the daily demand for gasoline in the United States decreased by 244000 barrels; The average daily demand for distillate oil decreased by 91000 barrels

BNP Paribas predicted in its report on September 14 that the annual average price of WTI this year was $80 per barrel, 2 dollars lower than the previous forecast; It is expected that the average price of WTI will be $86 per barrel next year, down $3 from the previous forecast. Meanwhile, BNP Paribas estimates that the average price of Brent crude oil this year and next will be $80 and $83 per barrel respectively, down $1 and $3 from the previous time

according to the latest news, the package price of OPEC calculated by the weighted average price of 12 OPEC member states on September 14 was $75.54 per barrel, up $0.48 from the previous trading day

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