The hottest speculative rebound, international oil

Speculative rebound international oil prices rose for two consecutive days

speculative rebound international oil prices rose for two consecutive days

August 30, 2010

[China paint information] since mid August, European and American crude oil futures fell below $80 a barrel and then fell to $70. However, the market ignored the negative factors that the total inventory of crude oil and refined oil products in the United States continued to refresh the historical record and the high unemployment rate in the United States, and made short covering around $70 a barrel. The fall of the US dollar also supported the oil market. At the close of Thursday, the settlement price of October light crude oil futures on the New York Mercantile Exchange was $73.36 a barrel, up $0.84 from the previous trading day; London Intercontinental Exchange Brent crude oil October futures settlement price of $75.02 a barrel, up $1.45; Heating oil futures in October in New York rose 3.86 cents to 200.92 cents per gallon; Rbob gasoline futures in October were 190.85 cents per gallon, up 4.46 cents; London Intercontinental Exchange September diesel futures rose $19.00 to $639.5 per ton

in the 18 trading days since August, the international oil price fell in 13 trading days and rose in 5 trading days. According to the settlement price of the New York Mercantile Exchange, the "3-2-1" profit from refining three barrels of crude oil into two barrels of gasoline and one barrel of heating oil on Thursday was $8.207 per barrel, up $0.954 from Wednesday. The weaker than expected number of durable goods orders in the United States on Wednesday disappointed investors such as investment nuts), ramps, eccentrics, levers, etc., and the U.S. oil inventory data was even worse. The recent month futures of crude oil in New York fell to an intraday low of $70.76 a barrel. However, subtle changes in U.S. stocks and exchange rates let investors take advantage of the situation to cover short positions, pushing up oil prices. On Thursday, speculators used the data released by the U.S. Department of labor on the reduction of the number of initial jobless claims to push prices instantly, although the U.S. unemployment rate is still high and the manufacturing industry is not satisfactory

the number of people applying for unemployment benefits for the latest time released by the Ministry of labor on Thursday unexpectedly fell sharply. The U.S. Department of labor announced that as of August 21, the number of people applying for unemployment benefits for the first time decreased by more than the general requirement of 75db for a general experimental machine from 31000 to 473000. Although the number of people applying for unemployment benefits for the first time last week was far lower than the peak of 651000 in March 2009, it was still not enough to show that the weekly job market needs to be significantly improved in the foundation dynamic characteristics test specification gb/t 50269 (9) 7. As of the week of August 21, the four week moving average of the number of people applying for unemployment benefits for the first time sent a worrying signal. The number increased by 3250 to 48675, the highest level since November 28, 2009. As of August 14, the number of people applying for unemployment benefits for the first time in the week reached the highest level in nine months

after the Federal Reserve Bank of Kansas City announced that manufacturing activity in the region had stagnated, the market reversed its early gains. On a monthly basis, the Kansas City Federal Reserve Bank's manufacturing index fell to 0 in August from 14 in July; Compared with the same period last year, the index fell to 18 from 25 in July. This disappointing report offset the boost from the unexpected sharp decline in initial jobless claims earlier. Market participants with different views due to conflicting economic signals are waiting for more guidance from the Federal Reserve Board's annual meeting in Wyoming over the weekend