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Decline in US oil prices stops at the 12th session

This update corrects the year for the largest daily interest expense on natural gas. Year 2004 was.

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The oil price was high on Wednesday, and the US oil prices dropped to 12th session because the trader raises raw material that does not answer the question.

Natural gas futures accounted for an average of 18% over 14%, as the cold weather brought concerns about US supplies.

Read: The counter-misleading rate for assets raised by 20% this week has increased oil prices, says a well-known merchant

Supply of West Texas Raw Materials in December

CLZ8, + 0.83%

At the New York Mercantile Exchange, RBC reported. The price was up by $ 55.69 per barrel at $ 56.25 a barrel. According to Dow Jones Market Data, the minimum monthly contract was completed on November 16, 2017 and the one-day interest rate decline was over 7%, over three years.

Worldwide crude oil Brent crude oil fell by 23% in October compared to Brent grade in October

LCOF9, + 0.82%

65 cents or 1%, on Wednesday it was 66.12 dollars per barrel. The deal fell by 6.6% to $ 65.47 per barrel on ICE Futures Europe, which united the US auctioneer in the bear market.

"The sharp sales in the oil market recently broke" Wednesday ", but most admired the acceleration of aggression in the last two sessions," says Jammer Ahmad, conducting a global exchange rate strategy and marketing research at FXTM.

"We have not seen such catastrophic days on Tuesday, when we have a negative impact on the oil market," he said. Nevertheless, "in 2019, the global economic downturn will cause a drop in demand for oil," he said.

In addition, as the US, Russia and Saudi Arabia have a record level of oil, the data on demand can be intensified, which will lead to a considerable increase in global demand, the International Energy Agency said.

Read: Oil futures have done something that has never been done since Trump is asking for low raw material prices

According to the IEA, the volume of oil production in three major world producers last month was $ 100.7 million. This is 2.6 mln. Better than barrels.

According to some analysts, the movement of oil in the short term is very difficult, which is still a product of growing production.

"Macro demand may take place in October, but the main outlook for the forward delivery has been significantly worsened in American production and much stronger than expected by Libya and Venezuela. Nevertheless, despite the fact that OPEC is currently discussing a reduction in production volumes, it does not justify the current sales volume, "says Jeffrey Kurry and the Goldman Sachs Group. warning.

Since May, world oil production has risen to 1.8 million barrels per day. The United States provided 1 million barrels a day, and Saudi Arabia and Russia added 620,000 barrels per day and 445,000 barrels per day, the IEA said.

Read: Five reasons for oil prices are the history

Reduced global economic growth and caused a drop in market prices as the Tramp administration's decision to abandon after sanctions from major Iranian oil buyers. the market.

The drop in prices has prompted the Organization of Petroleum Exporting Countries and its allies, including Russia, to signal joint reduction on Sunday. This step takes several months after the decision to increase production after more than a year after the end of the year.

In addition, President Donald Trump has consistently supported the decline in oil prices and announced another tweet on Monday asking for lower prices.

According to preliminary estimates, weekly EIA data will be released on Thursday, one day after the day of veterans' day.

According to analysts S & P Global Platts, the government agency has spent $ 2.3 million in the week ending November 9. Barrel predicts oil recovery. It is the eighth weekly weekly rise. They also have 894 thousand barrels of gasoline, and 2.7 million barrels for distillates.

According to Nymex, December gasoline

RBZ8, + 0,91%

1,2% for gallons and 1,561 USD for heating oil in December

HOZ8, + 1.53%

From 1.6% to 2.096 gallons.

Meanwhile, the natural gas futures prices were on the fourth session on Wednesday.

December natural gas

NGZ18, + 16.36%

British thermal units increased by 73.6 cents or 18% to $ 4,837. According to Dow Jones Market, since September 29, 2014 has been a one-day increase and has been at the highest level since February 26, 2014.

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