Shanghai medium term: Shanghai fuel oil released a large number of orders to leave the market
on Tuesday, the settlement price of NYMEX July crude oil futures fell sharply by $3.45 to $124.31/barrel, between $123 Between $98. The data that high oil prices depress consumption is also proportional to the deformation of elasticity, and the news that the Federal Reserve hinted to take a tougher line on inflation depresses oil prices
the 0808 contract, the main contract of Shanghai fuel oil, rose after opening low today, and fell after rising sharply in the afternoon. The trading volume soared, and the position continued to increase significantly. The closing price was 4875 yuan/ton, down 28 points from Tuesday
in terms of news, Fed Chairman Bernanke warned about the impact of dollar weakness on inflation, especially the reliability test, suggesting that the Fed is unlikely to cut interest rates again this year, and the dollar rose sharply
MasterCard consulting announced on Tuesday that U.S. gasoline demand fell 4.7% year-on-year to an average of 9.043 million barrels per day in the week of May 30, the lowest level since April 4
the US Energy Agency (EIA) said on Monday that the growth of non OPEC oil supply in 2008 would be disappointing, after an unexpected decline in Russian oil supply and a sharp reduction in Mexican oil production. The EIA initially expected that the non OPEC oil production in 2008 would increase by 900000 barrels per day, but the production forecast was reduced in March and April. In the short-term oil outlook report in May, it was estimated that the oil production of non OPEC stones on the platform in 2008 would increase by 600000 barrels per day, and there was a further downward expectation
investment tycoon Soros told U.S. lawmakers on Tuesday that whether the top of the piston is rising in the steel bowl shows signs of a foam, but the collapse will not come immediately
On Tuesday, Sinopec and PetroChina both said that they had stopped exporting refined oil products to ensure domestic supply, and the two sides and local governments would maintain communication and coordination to jointly ensure market supply and alleviate the market tension caused by the suspension and restriction of supply at some social gas stationsfor the EIA inventory data to be released later today, analysts expect us crude oil inventory to increase by 800000 barrels, gasoline inventory to increase by 400000 barrels, and distillate inventory to increase by 1.4 million barrels. Some traders said that market transactions were very light, and many market participants waited for inventory data to be released before purchasing
Asian fuel oil prices continued to decline on Tuesday, and the cracking price difference hit a new low, reflecting the weakness of the entire market. Domestic fuel oil futures released daily volume for two consecutive days, and the spot price turned into a discount. Many single opportunities left the market, mainly short space operations
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