Xinhuanet NEW York, Nov. 2 (Xinhua) By the European debt crisis, the Federal Reserve Board meeting on interest rates, the weaker US dollar and the increase in US crude oil inventories, international oil prices fluctuated sharply on the 2nd, New York oil prices rose slightly, London oil prices were slightly higher. fall.
The market originally expected the Fed to introduce more monetary stimulus policies at this meeting. However, the Federal Reserve did not announce more stimulus policies in its statement issued after the meeting. This hurts investor sentiment and put pressure on the dollar. In addition, the euro rebounded after experiencing a decline in the previous trading day, causing the US dollar to fall by about 0.2% against a basket of currencies, pushing up oil prices.
However, investors are still worried about the prospects for the resolution of the European debt crisis and believe that the possible referendum in Greece will bring many uncertainties to Europe and the world. The G20 summit is about to be held, and investors’ cautious wait-and-see sentiment has led to a low trading volume in the crude oil market.
In addition, the U.S. Energy Information Administration released data on that day that in the week ending October 28, US commercial crude oil inventories increased by 1.8 million barrels and gasoline inventories increased by 1.4 million barrels, indicating that production increased and demand decreased, limiting oil price increases.
At the close of the day, the price of light crude oil for delivery in December on the New York Mercantile Exchange rose 32 cents to settle at 92.51 US dollars a barrel, or 0.35%. The London Brent crude oil price in London fell slightly by 20 cents to settle at US$109.34 per barrel in December.
The market originally expected the Fed to introduce more monetary stimulus policies at this meeting. However, the Federal Reserve did not announce more stimulus policies in its statement issued after the meeting. This hurts investor sentiment and put pressure on the dollar. In addition, the euro rebounded after experiencing a decline in the previous trading day, causing the US dollar to fall by about 0.2% against a basket of currencies, pushing up oil prices.
However, investors are still worried about the prospects for the resolution of the European debt crisis and believe that the possible referendum in Greece will bring many uncertainties to Europe and the world. The G20 summit is about to be held, and investors’ cautious wait-and-see sentiment has led to a low trading volume in the crude oil market.
In addition, the U.S. Energy Information Administration released data on that day that in the week ending October 28, US commercial crude oil inventories increased by 1.8 million barrels and gasoline inventories increased by 1.4 million barrels, indicating that production increased and demand decreased, limiting oil price increases.
At the close of the day, the price of light crude oil for delivery in December on the New York Mercantile Exchange rose 32 cents to settle at 92.51 US dollars a barrel, or 0.35%. The London Brent crude oil price in London fell slightly by 20 cents to settle at US$109.34 per barrel in December.
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