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Heating oil demand is expected to promote international upstream

Date:2014/2/18 18:03:34 From:

Because investors expect demand will increase and other reasons, the international oil and metal prices rose last week . New York oil prices rose 2.45% ; London Brent oil rose 2.98% ; New York, gold rose 1.8 %.


Crude oil futures in New York last week for the first time this year, more than 100 U.S. dollars a barrel, the price of the transaction. The wholesale price of gasoline and heating oil prices helped push up the supply of reducing international oil prices. U.S. Energy Information Administration data showed the 5th , which include heating oil and diesel , including the supply of distillates fell 2.4 million barrels last week , down 12% over last year. Cold weather in the U.S. market is expected to boost demand for heating oil , refinery may buy and processing more crude to meet the needs of these factors promote international oil prices.


The 7th U.S. employment report showed the January U.S. nonfarm sector added 113,000 jobs , far below market expectations of 175,000 . But analysts blamed the cold weather , but there are also bright spots in the report , such as the unemployment rate fell to 6.7% in the previous month by 6.6% , a healthy increase in construction jobs , salary increase for employees and other companies , and therefore did not cause the oil price pressure.


Since January U.S. nonfarm sector added jobs report is poor , the market expected the Fed to tighten quantify easing decline, the gold market transaction constitutes support. Gold futures contract prices on the 7th New York Mercantile Exchange rose slightly , the third consecutive trading day closing high . 7, 2009, the New York Mercantile Exchange, gold futures market was the most active April gold futures closed at $ 1,262.9 an ounce , or 0.45 %.


In addition , the New York Mercantile Exchange, March silver futures prices for delivery in the 7th to close at $ 19.936 an ounce last week, rose to 4.27 percent ; Platinum futures for April delivery closed at $ 1,379.2 an ounce last week, was up 0.25%.


London Metal Exchange base metals futures prices mostly rose last week . Analysts believe that the United States is one of the massive stimulus plan including metals commodity market prices push factors , if the Fed slows the pace of withdrawal of monetary stimulus , will contribute to metal prices upward.


Among them, copper rose 1.1 percent last week , the most since the beginning of this year, the biggest weekly gain . Push copper prices of factors, including market demand in China is expected to rise after the Lunar New Year holidays , as well as copper inventories fell . Data show that the London Metal Exchange copper stocks fell more than a year low of 308,000 tons .


Chicago agricultural futures market last week, corn, wheat and soybean futures price hikes . March corn contract rose 2.36% , wheat rose 3.91 percent , soybeans rose 3.8%.


U.S. Department of Agriculture released the world agricultural supply and demand report on the 10th . Many traders expect global ending stocks of corn and soybeans may reduce corn and soybean markets transaction constitutes a positive. Aspects of the wheat market , due to the recent large- scale cooling snowy weather may hurt the U.S. Great Plains winter wheat growth , the 6th Chicago wheat futures ended sharply higher . March wheat contract last week weekly gain since last September hit a new high .



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