This week's oil price statistics were the same as in the previous round, and although the initial decline was not as good as the previous round, there were only 4 statistical windows passed, and the cumulative decline in the price adjustment amount had reached 500 yuan/ton, which was even worse than that. At the same time, as the price adjustment amount fell deeper and deeper, the oil price decline again can basically be confirmed.
Previous statistical window, the price adjustment amount continued to deepen negatively due to the crude oil change rate, and the decline was 470 yuan/ton. However, in the recent statistical window, the crude oil change rate further expanded to -7.26%, and the corresponding price adjustment amount is expected to fall by 500 yuan/ton (0.4-0.42 yuan/liter), which is one step closer to the largest 545 yuan oil price cut this year.
This oil price adjustment was on the 19th of this month, and more than half of the statistics remain. As long as the decline can continue to be above 50 yuan/ton, oil prices will open a window of downward adjustment again.
crude oil price wiped out a sharp rise on Thursday, falling to a one-year low. According to analysts, the number of consecutive unemployment claims in the United States rose to a 9 and a half month high on Thursday, which may indicate that the U.S. economy weakened and oil demand was dragged down.
Crude oil prices initially rose more than 4% on Thursday after TC Energy said it closed the Keystone pipeline system after it was discovered that the pipeline leak was discovered in Steele City, Nebraska. The Keystone 4 pipeline system could transport more than 600,000 barrels of crude oil from Canada to Cushing, Oklahoma, and then to Port Arthur and Houston, Texas, before crude oil prices took back all the rises because people expected the pipeline to be repaired within a few days and could avoid long-term closures.
week crude oil inventories data including API and EIA show that the decline is greater than expected, and the US Keystone pipeline shutdown due to the largest crude oil spill in about a decade have supported crude oil prices, but none of these positive factors are enough to suppress the economic damage to crude oil demand.
The EU Seven's price cap on Russian oil is another uncertainty in the crude oil market, and Russia's reaction has not shown clear signs. Although Russia has said it will not accept the price cap, the production cut has not yet begun to take action, which will also boost crude oil prices.
This makes expectations of the slowdown in global economy the primary factor limiting crude oil prices. In addition, next week, the Federal Reserve will further raise interest rates in , which will have a negative impact on consumer demand and economic growth.
From the perspective of the US dollar, PPI and Michigan consumer confidence index will be the key to the decision of the Federal Reserve's interest rate next week, because the federal committee has not been held yet, and the news cannot provide direction to the market for the time being. analyst believes that US inflation has fallen, which may provide a reason for the Fed's next rate hike. However, the recent tense labor market and recent ISM service industry data may also provide support for the Fed to continue to raise interest rates significantly.
2 December is a weaker month in the history of the U.S. dollar, but after the U.S. Federal Commission meeting, a weak dollar may turn around, which also has a negative effect on crude oil prices.
Date 10th gasoline price limit
