As investors expect the US Federal Reserve to launch economic stimulus policies, and crude oil demand is expected to increase, New York oil prices rose more than 2% on the 22nd, but London oil prices fell slightly due to changes in Libya. Fed ** Bernanke will deliver a speech on the US economic situation and monetary policy on the 26th of this month. Investors generally expect the Fed may consider taking measures to stimulate economic growth and increase employment given the increased risk of the US economy entering a recession. Thanks to this optimism, oil prices in New York rose.
Moreover, New York's oil prices fell sharply last week, and some investors chose to return to the market on the first trading day of the week, buying on a bargain and pushing up oil prices.
As the Libyan opposition has already taken control of Tripoli in the capital, the turbulent situation may gradually calm down in the near future and the suspended crude oil exports may hopefully be reopened. As a member of the Organization of the Petroleum Exporting Countries, Libya’s oil output was originally about 1.6 million barrels per day, but was interrupted due to violent outbreaks in the country. The resumption of exports will help improve the global oil supply and demand relationship, thereby driving down oil prices.
At the same time, the European debt crisis and bank financing problems still exist. Market analysts believe that the current confidence of investors in the crude oil market is weak, and any negative news in Europe may trigger a new round of selling.
As of the close of the day, the price of light crude oil** delivered by the New York Mercantile Exchange in September rose 1.86 US dollars to close at 84.12 US dollars a barrel, or 2.26%, October crude oil prices rose 2.01 US dollars to close at each The barrel was $84.42, an increase of 2.44%. However, the price of Brent crude oil in North Sea London, which was delivered in October, fell slightly by 26 cents to settle at US$108.36 per barrel, a decrease of 0.24%.
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