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International oil market review March 4, 2015

Number of visits:62 Date:2021-09-30
Oil prices rose Tuesday, as Saudi Arabia raised official prices, showing strong demand. In addition, the Israeli Prime Minister Netanyahu warned the Obama administration not the establishment of the nuclear agreement with Iran Libya moderate field, hostile armed forces to attack the other occupied port. These two factors also contributed to the rebound in oil prices on Tuesday.

New York Mercantile Exchange in April delivery of crude oil futures rose 93 cents to settle at $50.52 a barrel, or 1.9%. London Intercontinental Exchange (ICE) Brent crude oil futures rose 1.48 U.S. dollars to 61.02 U.S. dollars a barrel, or 2.5%.

Saudi light crude oil exports to the United States in April to the United States to increase the price of 1 U.S. dollars a barrel, will be exported to Asia, crude oil prices raised $1.4 a barrel. In recent months, Saudi Arabia's official oil price has been widely seen as a result of the market as a indicator of the country's strategy. Although oil prices fell sharply in recent months, Saudi Arabia still choose not to cut crude oil market speculation, the country is attempting to force the United States to cut oil shale. Saudi Arabia also cut its exports to the United States last year, and in the past few months down the price of oil exports to asia.

U.S. Energy Information Administration (EIA) announced that in December last year, the United States average daily consumption of 19 million 500 thousand barrels of gasoline products, the highest since December 2010 consumption levels.

However, the U.S. demand for Saudi oil is less than the former, because the United States shale daily millions of barrels of crude oil. EIA data show that in December last year, the United States imported 813 thousand barrels of crude oil daily from Saudi Arabia, the lowest level since August 2009.

Traders are paying close attention to the US crude oil inventory report, which was released on morning, as the U.S. crude oil inventory report released on Wednesday. Analysts surveyed by the Wall Street Journal reported that the report would show us crude oil inventories increased by 4 million 600 thousand barrels. Analysts also expect gasoline stocks to drop by 1 million 800 thousand barrels, including heating oil and diesel oil, including distillate stocks will fall by 2 million 600 thousand barrels.

The American Petroleum Institute released its weekly petroleum inventory data on Tuesday evening, the report showed last week that U.S. crude oil inventories increased by 2 million 900 thousand barrels, distillate inventories decreased by 296 thousand barrels, while gasoline inventories increased by 530 thousand barrels per day. Refinery operating rate remained unchanged at 87.3%.

Concern industry report pointed out that the delivery location of the New York Mercantile Exchange crude oil futures in Oklahoma Cushing crude oil inventories in the recent week, an increase of less than many people's expectations.

Libya hostile armed forces carried out air strikes on the other side of a tooth for a tooth type occupied port and airport, the supply of crude oil in the country's renewed concerns. However, a spokesman for the Libya National Oil Company said the crude oil production in Libya was about 500 thousand barrels a day, above the 325 thousand barrels per day in January.

By midday in New York not long ago, oil prices accelerated, because the Israeli Prime Minister Netanyahu said in a speech at the Congress of the United States, the United States and Iran are negotiating the nuclear agreement in Iran can almost guarantee the possession of nuclear weapons. The lifting of Western sanctions against Iran could boost Iran's oil exports, and thus lead to an increase in global inventories.