Last week, the U.S. commercial inventories of crude oil and a weaker dollar and other factors to reduce the impact of sharply higher international oil prices on the 9th, 75 dollars a barrel in intraday trading approach.
U.S. Department of Energy's Energy Information Administration said in a report last week, U.S. crude oil inventories decreased by about 180 million barrels, higher than market expectations of 130 million barrels of decline.
In addition, the market regain confidence in economic recovery, expected future demand for energy is growing. Federal Reserve Chairman Ben Bernanke that day to testify in the House of Representatives Budget Committee, said the Fed would take timely measures to ensure economic stability and sustained recovery. He also believes that as long as the U.S. financial markets to stop the declining trend in the debt crisis in Europe the impact on U.S. economic growth will be very small.
Stimulated in the Bernanke speech, the market risk appetite increased, the dollar fell against major currencies fully promote the dollar-denominated crude oil futures prices, the New York market, oil prices shot up to 74.96 U.S. dollars a barrel.
To the closing, the New York Mercantile Exchange, light crude oil for delivery in July futures rose 2.39 U.S. dollars to close at 74.38 U.S. dollars a barrel, or 3.3%. London, July Brent crude futures rose 1.97, to close at 74.27 U.S. dollars a barrel, or 2.7%. (Yang Lei)