Oil prices up! Up! Up
Yuliyuan said: Today, Monday, April 23, the new week begins again. At the same time, the domestic refined oil price adjustment window also opened on Wednesday, the countdown has been opened, only the last three days, oil prices will usher in an increase, three consecutive increases are coming. As of last Friday's close, the domestic refined oil forecast is up about 205 yuan/ton, will it rise in the last three working days? Please wait for April 26.
News from the Economic Information Daily: International oil prices rose and fell last week, hovering at a high point in more than three years. Earlier last week, Brent crude oil and New York crude oil both hit their highest levels since November 2014, reaching US $74.75 per barrel and US $69.56 per barrel respectively, and then fell slightly from their highs. The price of light crude oil futures for delivery in May on the New York Mercantile Exchange closed at US $68.29 per barrel, and the price of London Brent crude oil futures for delivery in June closed at US $74.06 per barrel.
For the recent rally, the market believes that the Organization of the Petroleum Exporting Countries (OPEC) and Russia's production cuts in the past 16 months have helped push up crude oil prices; rising geopolitical risks are also one of the reasons. It is worth noting that although oil prices have risen and global inventories have fallen, OPEC is likely to maintain production cuts until 2019. Among them, Saudi Arabia has not sent any signal that it wants to reduce production cuts.
Changes in U.S. oil supply and demand have become another focus of market attention.
Bob, director of energy futures at Mizuho, said that if Trump starts discussing the possibility of releasing strategic oil reserves, it will put pressure on oil prices. "However, I have not seen any indication that the US government plans to do so." He said.
According to data released by Baker Hughes, an energy service company under General Electric, as of the week of April 20, the number of active drilling rigs in the United States increased for the third consecutive week, reaching a total of 820, the highest since March 2015.
Boosted by expectations of a US interest rate hike, the dollar rose and international gold prices fell nearly 1% that week. Federal Reserve officials hit gold prices in their speeches that week, with Cleveland Federal Reserve Bank President Mester saying the Fed should continue to raise interest rates this year and next to prevent economic overheating and rising risks to financial stability.