Comments on crude oil futures market on November 2

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November 21 review of crude oil futures market

review of crude oil futures market on November 21

November 22, 2007

on Wednesday, the price of crude oil futures market on the New York Mercantile Exchange (NYMEX) closed down, with intraday fluctuations. Traders took profits while data showing a decline in U.S. oil inventories failed to stimulate too much buying

the decline in oil prices also denied the market's expectation that oil prices could exceed $100 a barrel on the eve of Thanksgiving. The price of crude oil hit a record intraday high of $99.29 in electronic trading earlier today, once making the price of $100. 3. The price with fast cooling speed is not far away. However, the Department of energy's oil inventory report sent mixed signals, while the market was quiet before the holiday, and the oil price finally closed below the historical settlement price of $98.03 on Tuesday

summit energy analyst Brad samples said, "I believe that the level of market trading activity and trading volume are not enough to push up the oil price to $100/barrel. The market is actually taking a breather."

nymex light sweet crude oil futures contract for January delivery fell 74 cents, or 0.8%, to $97.29 a barrel. On the ice futures exchange, the settlement price of January Brent crude oil futures contract fell 65 cents to $94.84 a barrel

traders have been preparing for the latest oil inventory data released by the energy information administration under the U.S. Department of energy on Wednesday morning. The data, released at 10:30 a.m. EST, showed that U.S. crude oil inventories fell by 1.1 million barrels last week, while analysts expected inventories to increase. After the data was released, oil prices briefly rose $1.60 to 98.70 a barrel Dollars

however, analysts said that the data showed that the inventory of Cushing, Oklahoma, where the oil futures were delivered on the New York Mercantile Exchange, increased by 1.2 million barrels, thus limiting the rise in oil prices

analyst Jim ritterbusch said: "in my opinion, the impact of the increase in inventory in Cushing on the market seems to have exceeded the impact of the overall decline in crude oil inventory on the market

ritterbusch said that partly affected by concerns about high oil prices, the U.S. stock price also fell on Wednesday. Recently, the Dow Jones Industrial Average fell 132.90 points to 12877 lead-free preparation technology; Preparation technology of new high frequency and high thermal conductivity insulating ceramic materials; Preparation technology of dielectric ceramics and ferroelectric ceramics; Preparation technology of various sensitive functional ceramic materials; Optical functional ceramics and thin film preparation technology with optical transmission, optical storage and other uses; Preparation technology of ferroelectric and piezoelectric crystal materials with high motor coupling coefficient and high stability; Special optical crystal material preparation technology; Preparation technology of ultra high temperature conductive ceramic heating materials, etc twelve p.m. Crude oil traders see this as a reflection of potential US oil demand and as a sell-off signal

after the oil price hit a new high in the market, some traders took profits. Harry tchilinguirian, senior oil market analyst at BNP Paribas commodity derivatives in London, said that oil prices peaked before the data was released, which may be understood as the law that the market buys because of rumors and sells after the facts appear

in view of the light trading on Wednesday, some people think it is inappropriate to pay too much attention to the oil price trend on Wednesday. Tim Evans, an energy analyst at Citigroup in New York, said it was difficult to explain today's transaction

the trading hall of the New York Mercantile Exchange will be closed on Thursday and trading hours will be shortened on Friday. Unless there is an unexpected change in oil supply or geopolitics, some observers expect that oil prices will not point to $100 this week

nymex's December heating oil contract settlement price fell 27 cents, or 0.1%, to $2.6874 per gallon. In December, rbob gasoline futures fell 1.44 cents to a gallon, but the relevant R & D and industrialization lagged behind China, South Korea, Japan, Singapore and other Asian countries by $2.4371, down 0.6%

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