The hottest demand is insufficient to suppress WTI

2022-08-06
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Insufficient demand depresses WTI's Iran issue. In addition, insufficient demand depresses WTI's Iran issue. Brent

February 15, 2012

[China coating information] a series of factors depress the market atmosphere. On Tuesday, European and American crude oil futures fell. However, concerns that Iran may cut off oil supply to the EU still supported the European oil market, and Brent crude oil futures closed higher. However, the US crude oil inventory showed signs of growth, and Brent crude oil futures fell again on the after hours electronic trading system. On Tuesday (February 14), the settlement price of March 2012 West Texas light oil futures on the New York Mercantile Exchange was $100.74 per barrel, down $0.17 from the previous trading day, with a trading range of 100 $84; The settlement price of March 2012 Brent crude oil futures on the London Intercontinental Exchange was $118.16 a barrel, up $0.23 from the previous trading day $28

the European crisis still worries the market. Moody's downgraded the sovereign credit rating of six European countries. The atmosphere of the European and American crude oil futures market was pressured during the Asian trading session on Wednesday. It is reported that Moody's Investors Service announced on February 13 that it would downgrade the sovereign credit rating of six euro zone countries including Italy and Spain, and set the rating outlook of France, the United Kingdom and Austria as negative. Among them, the sovereign credit ratings of Italy, Portugal, Slovakia, Slovenia and Malta were downgraded by one grade respectively, and Spain's sovereign credit rating was downgraded by two grades from A1 to A3. At the same time, the 3A sovereign credit ratings of the UK, France and Austria remained unchanged, but the rating outlook of these countries was set as negative. Moody's said that the decision to downgrade was made mainly because there were still many uncertainties in the financial and economic structural reforms carried out in the euro zone, and the resources needed to deal with the euro zone sovereign debt crisis were less than 0mm, which may not be in place in time. Moody's believes that the deteriorating macroeconomic outlook in Europe may affect the implementation of a wide range of production contraction policies and structural reforms in some countries. Moody's pointed out that these factors will further attack the fragile market confidence, so that the financing environment of troubled countries and banks will continue to deteriorate. However, Moody's also said that the strength of this downgrade is limited, mainly because European leaders have improved the energy conservation and emission reduction indicator system, monitoring system and assessment system, and have repeatedly said that they will maintain the integrity of the euro zone, and promised to implement all necessary reforms to restore market confidence

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