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Optimistic market atmosphere international oil price hit a 26 month high

optimistic market atmosphere international oil price hit a 26 month high

December 22, 2010

[China paint information] boosted by the strength of the stock market and the optimism of the market on the U.S. economy, European and American crude oil futures hit a 26 and a half month high on Tuesday, improving the service life and reliability of the machine. At the close of Tuesday, the February futures settlement price of light crude oil on the New York Mercantile Exchange was $89.82 a barrel, up $0.45 from the previous trading day; London Intercontinental Exchange Brent crude oil futures in February settled at $93.2 a barrel, up $0.46; New York heating oil futures in January rose 2.69 cents to 251.64 cents per gallon; Rbob gasoline futures in January were 239.85 cents per gallon, up 2.07 cents; London Intercontinental Exchange January diesel futures rose $12.50 to $776.75 per ton. According to the settlement price of the commodity exchange, which has realized the recycling of resources in New York, the "3-2-1" profit of refining three barrels of crude oil into two barrels of gasoline and one barrel of heating oil on Tuesday was $12.568 per barrel, which has many advantages over the phenolic foam on Monday: (1) the thermal conductivity is generally 0.02 ~ 0.04w/mk, a decrease of $0.053

despite the strong market atmosphere, the market trading before Christmas was light, and New York crude oil futures in recent months encountered strong resistance at $90 a barrel. The market is waiting for the final GDP evaluation results released by the United States on Wednesday. The GDP evaluation value of the United States in the third quarter at the end of November was 2.5%, but analysts estimated that it was 2.8% this month. Jan Hatzius, the chief economist of Goldman Sachs bank in the United States, believes that the U.S. GDP may grow by 3.4% next year, while last month, this person estimated that the U.S. GDP growth next year is only 2%. The reason for significantly raising the economic forecast is to consider increasing Bush's two-year tax cuts and stronger than expected economic data

as crude oil futures in Europe and the United States soared, the high sulfur crude oil sold in the Middle East to Asia also rose to the highest level in 26 months. Oman crude oil and Dubai crude oil spot delivered recently on Tuesday both exceeded $90 a barrel, and Oman crude oil February futures traded on the Dubai Mercantile Exchange exceeded $90 for the first time in nearly 27 months. The light and high sulfur Murban crude oil exported by the state-owned oil company of Abu Dhabi, the United Arab Emirates, exceeded US $93 per barrel, the highest level since October 2008

at 6 p.m. Singapore trading time on Tuesday, the premium of Brent crude oil to Asian benchmark Dubai narrowed to $2.86 from $3.40 on December 6, which means that Atlantic basin crude oil priced with Brent crude oil is more attractive to Asian customers. Atlantic basin crude oil includes North Sea crude oil, Mediterranean crude oil and West African crude oil

analysts generally estimate that the U.S. crude oil inventory last week announced by the U.S. energy information administration on Wednesday may decline, because the U.S. Gulf refineries reduce their net assets to avoid taxes before the end of the year. Bloomberg in a survey showed that the U.S. crude oil inventory for the week ended December 17 was 349.5 million barrels, an increase of 3.5 million barrels over the previous week. Gasoline inventories may increase by 1.5 million barrels, and distillate oil inventories, including heating oil and diesel, may remain stable

the results released by the American Petroleum Institute on Tuesday were basically similar to analysts' expectations. According to the American Petroleum Institute, U.S. crude oil inventories fell by 1.442 million barrels as of the week of December 17; Gasoline inventory increased by 24, and the industrial convergence effect continued to increase by 15000 barrels; Distillate oil inventory increased by 1.951 million barrels

the peak demand in winter is approaching, and the global crude oil inventory in floating warehouses on the sea is declining. According to the statistics of ICAP shipping, a shipping agency of Yilian Huiye, as of the week of December 17, the oil storage capacity of VLCCs, including Iran, was 40million barrels, a decrease of 4million barrels from the previous week

according to the statistics in the monthly report of the International Energy Agency, the crude oil stored in the sea breeze in Europe, Asia Pacific and Latin America in November was 38million barrels, an increase of 5.5 million barrels over October

the New York Mercantile Exchange is closed on Friday for Christmas this weekend. SpendingPulse, a MasterCard consulting company in the United States, calculated the gasoline sold by gas stations. As of the week of December 17, the daily demand for gasoline in the United States was 9.188 million barrels, an increase of 6000 barrels over the previous Sunday, but 4% lower than the same period last year. It is the largest year-on-year decrease since July 24, 2009. The editor in chief of the report said that such a large year-on-year decrease was due to the fact that Christmas last year was Friday and this year was Saturday, and the data in this report were as of midnight on Friday. People usually buy oil in advance before traveling during the long Christmas holiday

according to the latest news, the package price of OPEC calculated by the weighted average price of 12 OPEC member states on December 20 was US $88.59 per barrel, down US $0.19 from the previous trading day

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