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Crude Oil: Libya Situation Affects Crude Oil To Rise 2.3%

2011/8/23 14:37:00 50

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New York

NYMEX crude oil futures closed up on the 22 day, as the situation in Libya prompted investors to switch from Brent crude oil futures in Beihai to New York light crude oil futures, prompting the former to fall in price.

NYMEX light crude oil futures closed up 1.86 U.S. dollars in September, closing at $84.12 a barrel, or 2.3%, hitting 81.13 dollars a barrel, hitting a maximum of $84.67 a barrel.

According to Dow Jones newswires, ICE Brent October

crude oil

Futures fell 36 cents to $108.26 a barrel, or 0.3%., after the news that Libya's opposition had controlled most of Tripoli, the contract hit a low point of $105.15 a barrel earlier. However, most of the lost land was recovered at the end of the session, as traders lowered expectations for Libya's oil exports to recover soon.

Before the civil war broke out in February, Libya exported 1 million 300 thousand barrels of high-quality oil per day.

Libya's anti government leader, Shokri Ghanem 22, said the country would resume oil output in the next few months, ending the disruption of oil output since the war broke out in the country.

A senior official of the Gulf oil producing countries said on 22 June that Saudi Arabia is ready to take measures to readjust oil production to cope with Libya's recovery.

petroleum

The supply situation, however, has not been done yet.

Libya's resumption of production will lead to oversupply of the market, and Saudi Arabia will cut output.

Shanghai fuel oil futures fell 22 days ago.

The main 1112 contract was 4869 yuan / ton, or 9 yuan.

Yesterday's Shanghai fuel shock was down, although there were signs of trying to rebound in the market, however, the late market was down due to weakness in the domestic stock market and international oil prices.

Due to the lack of confidence in the market, most domestic commodities in the afternoon are in a downward trend, and the market as a whole is relatively low.

Overnight crude oil closed higher, and expected fuel oil will continue to shock in the near future.

On the spot side, in August 22, 2011, the Southern China Singapore mixed 180CST fuel oil depot was quoted at a price of 4900-4920 yuan / ton, unchanged from the previous trading day. Southern China's domestic mixed 180CST library was raised at 4965 yuan, unchanged from the previous trading day.

Singapore's high sulfur 180CST Whampoa CFR paction price is 655.25 US dollars / ton, up 6.75 US dollars from the previous trading day; Singapore 180CST-9 month paper goods 633 US dollars / ton, up 6.50 US dollars from the previous trading day.