International oil prices fell more than 9% last week
Last week, commodities continued to decline, with international oil prices falling by 9.22%, the largest one-week drop since May of this year. Experts said that if the crude oil continues to consolidate around the 80 US dollars / barrel, the domestic refined oil cut window will be opened again in the middle of October.
The Federal Reserve announced on the 21st that it had decided to replace the time limit for government bonds with the idea of ​​"buying shorts to buy long", the so-called "distorted operation." The Fed’s measures are intended to depress long-term interest rates and encourage consumers to engage in long-term gambling such as housing or automobiles. The market’s QE3 is expected to fall short. Moody's also lowered the three US bank bond ratings.
International oil prices fell 6% on a single day
Affected by this, international oil prices plunged 6.3% last Thursday and closed near 80 US dollars. International oil prices fluctuated sharply last Friday, the lowest intraday reached 77.55 US dollars / barrel, down 0.82% throughout the day to close at 79.85 US dollars / barrel. The cumulative decline of 9.22% in one week was the largest one-week drop since May of this year.
"The financial markets originally expected the Fed to be able to turn the tide, but it was counterproductive." Zhong Jintao, oil analyst at Wangyu, said that the Fed merely introduced "distorted operations" rather than a new round of loose stimulus policies, its remarks on the economic outlook and its weakness The European manufacturing data has triggered another wave of financial market downturns. Risk assets such as stocks and commodities have been sold off. The US dollar has been buoyant as a safe-haven currency. The US dollar index has touched the highest point in more than six months, and further The international crude oil and other commodities denominated in dollars form a strong pressure.
The price adjustment window or the opening of the international oil price once again fell to around 80 US dollars, the industry once again lit up the expectations of the domestic refined oil prices. According to CBI's statistics, as of September 22, the 22-day moving weighted average price of Brent, Dubai, and Xinta fell 0.57% from the benchmark price on April 6.
At the end of August and early September, due to the fall in international oil prices, the domestic refined oil price was approaching the conditions for downward adjustment. However, the international oil price experienced a dramatic turning point. The average price of oil in the three places on the 22nd moved positively for three consecutive weeks, forcing domestic refined oil in early September. The retail price reduction window is closed.
The pessimistic economic environment in Europe and the United States created yet another price adjustment opportunity for crude oil. Shen Yu, oil analyst at Zhongyu, expects that if crude oil continues to consolidate around $80/barrel, domestic refined oil cuts will open again in mid-October.
Last week, commodities continued to decline, with international oil prices falling by 9.22%, the largest one-week drop since May of this year. Experts said that if the crude oil continues to consolidate around the 80 US dollars / barrel, the domestic refined oil cut window will be opened again in the middle of October.
The Federal Reserve announced on the 21st that it had decided to replace the time limit for government bonds with the idea of ​​"buying shorts to buy long", the so-called "distorted operation." The Fed’s measures are intended to depress long-term interest rates and encourage consumers to engage in long-term gambling such as housing or automobiles. The market’s QE3 is expected to fall short. Moody's also lowered the three US bank bond ratings.
International oil prices fell 6% on a single day
Affected by this, international oil prices plunged 6.3% last Thursday and closed near 80 US dollars. International oil prices fluctuated sharply last Friday, the lowest intraday reached 77.55 US dollars / barrel, down 0.82% throughout the day to close at 79.85 US dollars / barrel. The cumulative decline of 9.22% in one week was the largest one-week drop since May of this year.
"The financial markets originally expected the Fed to be able to turn the tide, but it was counterproductive." Zhong Jintao, oil analyst at Wangyu, said that the Fed merely introduced "distorted operations" rather than a new round of loose stimulus policies, its remarks on the economic outlook and its weakness The European manufacturing data has triggered another wave of financial market downturns. Risk assets such as stocks and commodities have been sold off. The US dollar has been buoyant as a safe-haven currency. The US dollar index has touched the highest point in more than six months, and further The international crude oil and other commodities denominated in dollars form a strong pressure.
The price adjustment window or the opening of the international oil price once again fell to around 80 US dollars, the industry once again lit up the expectations of the domestic refined oil prices. According to CBI's statistics, as of September 22, the 22-day moving weighted average price of Brent, Dubai, and Xinta fell 0.57% from the benchmark price on April 6.
At the end of August and early September, due to the fall in international oil prices, the domestic refined oil price was approaching the conditions for downward adjustment. However, the international oil price experienced a dramatic turning point. The average price of oil in the three places on the 22nd moved positively for three consecutive weeks, forcing domestic refined oil in early September. The retail price reduction window is closed.
The pessimistic economic environment in Europe and the United States created yet another price adjustment opportunity for crude oil. Shen Yu, oil analyst at Zhongyu, expects that if crude oil continues to consolidate around $80/barrel, domestic refined oil cuts will open again in mid-October.
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