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International oil market review March 6, 2015
Number of visits：67
Date：2021-09-30
Oil prices fell on Thursday as fears of oversupply and the dollar strengthened.
The New York Mercantile Exchange in April delivery of crude oil futures fell 77 cents to settle at $50.76 a barrel, down 1.5%. London Intercontinental Exchange (ICE) Brent crude oil futures fell 7 cents to $60.48 a barrel, down 0.1%.
U.S. crude oil inventories rose to a record high in the week ending February 27th, but the number of crude oil refineries due to seasonal factors was reduced by seasonal factors, the energy information administration said on Wednesday. The agency also announced an unexpected rise in the supply of gasoline. Gasoline supply last week
Growth to 240 million 100 thousand barrels, the highest level since the same period in the previous year, located in the same period last year.
Analysts say the fuel distributor is required to reduce the level of winter fuel inventories this month, to make room for the summer grade of gasoline.
In addition, the demand for heating oil and diesel fuel, which is pushed up by the cold weather, may also be dissipated as the spring comes. Production of refined oil is likely to rise next month, as more refineries end seasonal maintenance.
Earlier Thursday, the European central bank governor Delagi said at a news conference, the central bank will start quantitative easing measures in March 9th to boost economic growth. Dollar against a basket of currencies even stronger that crude oil for foreign buyers to become more expensive.
Geopolitical concerns, however, provide support for Brent oil prices. Libya National Oil Company announced on Wednesday the country's 11 oil fields force majeure clause, said the Islamic state after the attack has been unable to ensure the safety of these oilfields.
Africa's largest oil reserves in Libya in recent weeks has been hit by violent attacks, which led to a substantial decline in Libya's crude oil production. Libya's crude oil production is about 500 thousand barrels a day, less than 1/3 of its peak production.
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