The hottest demand is still weak, and the oil pric

2022-07-24
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Demand remains weak, oil price drops slightly

demand remains weak, oil price drops slightly

december31,2008

[China paint information] on Tuesday, the price of crude oil futures market on the New York Mercantile Exchange (NYMEX) closed lower, and the drag on oil price due to weak demand worries outweighed the boost on oil price due to the escalation of armed conflict in the Gaza Strip

nymex February crude oil futures settlement price fell 99 cents, or 2.5%, to US $39.03 per barrel. ICE Futures Exchange February Brent crude oil futures settlement took advantage of the broad prospect of 10 points, and the price fell 40 cents to US $40.15 a barrel, down 1%

Israel's air strikes against Hamas targets in the Gaza Strip triggered concerns that oil production might be interrupted. Affected by this, oil prices rose on Monday

however, as the above concerns have already been reflected in the market trend, traders once again turned their attention to the weak demand and the resulting global high inventory phenomenon, so the oil price reversed part of Monday's increase on this trading day

according to the data released by MasterCard Inc. (MA) m, which has reduced the aircraft's weight and astercard advisors LLC, despite the continuous decline in gasoline prices, U.S. gasoline demand for the four weeks ended December 26 was still 3% lower than the same period of the previous year, and the largest decline since the four weeks ended November 21

the Conference Board announced on Tuesday that US consumer confidence fell to an all-time low in December. Mark Waggoner, President of Excel futures, said that everyone is talking about the economic downturn. The fundamental problem is that everyone just thinks that demand will decline

however, some people, including Wagoner, believe that with the further decline of gasoline prices, the downturn in gasoline demand is expected to be reversed in the short term

the organization of Petroleum Exporting Countries (OPEC) is also stepping up efforts to reduce supply. According to petrologistics, an oil tanker tracking agency, OPEC members are very accurate. In December, the daily production of OPEC decreased by 400000 barrels. Saudi Arabia, the world's largest oil producer, will inform customers about the crude oil shipment volume in February in the next two weeks

as of the week of December 19, the crude oil inventory in Cushing and okra, the delivery place of NYMEX crude oil futures, reached a record high of 28.5 million barrels. Some people still expect that the crude oil inventory in Cushing will continue to grow and the storage space will continue to decrease

the energy information administration (EIA) will release the updated data on Wednesday. Analysts surveyed by Dow Jones predict that US crude oil inventories will fall by 1million barrels. Some companies tend to store crude oil because of the huge price difference between the near month contract and the far month contract, while others need to reduce inventories to avoid tax expenses

in addition, on average, analysts predict that gasoline inventory will increase by 1.4 million barrels, and distillate oil inventory, including diesel and heating oil, will increase by 800000 barrels

nymex January rbob gasoline futures settlement price rose by 1.08 cents to 88.53 cents per gallon, or 1.2%. The settlement price of heating oil futures in January rose 0.27 cents, or 0.2%, to $1.2880 per gallon

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