The hottest cold wave hit the United States and in

2022-08-04
  • Detail

The cold current hit the United States and the international oil price rose on Monday

the cold current hit the United States and the international oil price rose on Monday

January 5, 2010

[China paint information] due to the large-scale cold current hit the United States, the demand for heating oil rose. On Monday, the oil price in New York rose above $81 for the first time in two months. At the close of Monday, the February light crude oil futures on the New York Mercantile Exchange were $81.51 a barrel, up $2.15 from the previous trading day; London Intercontinental Exchange Brent crude oil February futures was $80.12, up $2.19; New York heating oil February futures rose 7.49 cents to 219.05 cents per gallon; Rbob gasoline futures in February were 210.44 cents per gallon, up 5.15 cents; London Intercontinental Exchange January diesel futures were $653.75 per ton, up $18.25 from the previous trading day

the National Weather Service said on Monday that the temperature in the eastern half of the United States will be lower than normal before January 17, including the northeast, which accounts for four fifths of the national heating oil demand. In Asia, Beijing and Seoul suffered the biggest cooling and snowfall in half a century. In addition, the rise in US stocks and the depreciation of the US dollar also pushed up oil prices

Michael Lynch, President of the Massachusetts Institute of strategic energy and economics, said: "all the news today makes oil prices bullish. The record low temperature weather in North America and Asia is bound to significantly increase fuel demand, and the rise in the stock market in the new year has boosted confidence in economic recovery."

according to the report of the US Department of energy, at the end of last year, the storage of heating oil in the US fell for six weeks to 44.4 million barrels. According to the median forecast of Bloomberg News Agency's survey of analysts, the U.S. distillate oil (including heating oil and diesel) inventory may continue to decline by 1.78 million barrels as simple as possible following the structure last week

on Monday, the S & P 500 index rose 1.5% to 1132.18 points; The Dow Jones index rose 1.6% to 10592.20. According to the report released by the American Institute of supply management on Monday, the manufacturing index rose to 55.9 in December from 53.6 in November, higher than the 54.3 forecast by economists, and the highest level since April 2006. The index above 50 indicates that the manufacturing industry is expanding. It has been above 50 for five consecutive months, which further proves that the US economic recession has been reversed

technical analysts believe that under the double favorable weather and stock market, the oil price will test the high of $83.19 in recent days, and the February futures reached this level on October 21 last year. However, some analysts believe that the rise in oil prices on Monday was mainly due to traders' return to the market after more than 3/4 of the two-week holidays were hot-air plastic granulators. This rise cannot be sustained because despite the good economic news, the demand is still relatively weak: this year's world oil 3. Cleanliness: the industry's leading integrated design demand is difficult to recover to the level of 2007

in terms of geopolitics, the U.S. ultimatum to Iran to accept the draft of "foreign purification and enrichment of uranium" by the end of 2009 has expired. Western media said that the United States may impose sanctions against Iran's Revolutionary Guard and the oil industry. As a counterattack, Iran also issued an "ultimatum" to the west, asking western countries to accept Iran's nuclear fuel exchange proposal within one month, otherwise Iran will rely on its own experts to produce highly purified enriched uranium

Iran is the second largest oil producer of OPEC, second only to Saudi Arabia. The domestic situation is already volatile. If it is sanctioned again, it will certainly trigger a new round of concerns about the oil supply in the Middle East

Russia's oil supply to refineries in Belarus has stopped. Russia says it is continuing negotiations with Belarus on oil supply in 2010. However, Mikhail barkov, vice president of Transneft in Russia, said that he would not cut off the oil supply to Europe under any foreseeable circumstances

Copyright © 2011 JIN SHI