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International oil market review May 8, 2015
Number of visits：46
Date：2021-09-30
Friday, the United States crude oil futures prices, traders to weigh the impact of rising demand and the market is still oversupply.
The New York Mercantile Exchange, light sweet crude oil futures rose 45 cents to $59.39 a barrel, up 0.8%. London Intercontinental Exchange (ICE) Brent crude oil futures fell 15 cents to 65.39 U.S. dollars / barrel, down 0.2%.
U.S. crude oil futures rose for eighth weeks, this week has risen 0.4%, recipients in the U.S. employment data and the hurricane season the first storm formed news. Brent for the first time in the weekly rise after a month down, down 1.6%, because the market worried about global excess supply again.
Oil prices last month rose steadily, due to a weaker dollar and the market betting on short-term demand improvement will alleviate the problem of excess supply. However, after hitting a high level in the year, oil prices fell by up to 3% on Thursday, recorded in April, the largest single day decline in. Dollar rose and real crude oil market shows that tens of millions of barrels of West Africa, Azerbaijan and Beihai crude oil is still looking for buyers, but also a drag on the oil market.
Oil prices rose in early trading, due to the Labor Department announced the U.S. 4 menstrual seasonal adjustment after the new employment of 223 thousand people, the unemployment rate fell from 5.5% in March to 5.4%. The rise in employment will allow more people to drive to work, which is a positive factor in the demand for crude oil.
Oil prices subsequently pared gains, because the market doubts on this week, prices soared, but after prices rise again. Market trading volatility, as investors realized that last week, the U.S. crude oil inventories to reduce the cost of gasoline and distillate stocks increased.
The Atlantic hurricane season this year, the first named Anna (Ana) storm in the United States near the coast of South Carolina, the formation of the news, the news also supports the U.S. crude oil futures. The Atlantic hurricane season usually starts in June 1st.
Oil prices rose in April, due to the expected U.S. production is close to the peak, but the total output is still in the high point of decades. Some analysts say prices above $60 a barrel are not sustainable, because the market is still in excess supply, and if prices remain above that level, manufacturers may increase production.
Oil field service company Hughes Beck said Friday that the United States the number of drilling platform last week to reduce the 11, to 668, the lowest level since September 2010. However, in the U.S. shale oil production area of Texas, the Permian Basin, the number of drilling rigs increased last week a.
The number of drilling platforms has slowed, and some analysts say the number of wells may be approaching a trough. U.S. oil prices earlier this week, a slight increase of 60 U.S. dollars / barrel, the price level is likely to allow some manufacturers to increase the number of drilling platform.
April China's crude oil imports record, in early trading to support Brent crude oil rose, but after the contract fell. Traders warned that lower oil prices could encourage China to increase crude oil inventories, so that further increase in global crude oil inventories.
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