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International oil prices fell Thursday morning European city around 76 U.S. dollars
Source:Network of Chinese chemical fertilizer   Author:Cold Green   Time:2010-06-25   Read:1427second  

        Last week, U.S. crude oil inventory data due to the bad influence over the Federal Reserve (Fed) decided to maintain the benchmark interest rate at near zero levels of support formed by oil prices, international oil prices Thursday (June 24) morning European market fell about 76 U.S. dollars level.
        
Decline in European stock markets also weighed on the market confidence, and strengthened the relevance of oil prices and the stock market.
        
Germany's Commerzbank (Commerzbank) analyst Eugen Weinberg said: "The Fed's monetary policy and the dollar weakened to some extent on the balance of U.S. oil demand is not completely weak situation."
        
The Fed's policy decisions is generally formed to support oil prices because of low interest rates help to promote oil consumption. But the Fed decided to keep interest rates unchanged at the same time that the slow U.S. economic recovery process.
        
Federal Reserve (FED) Wednesday (June 23) to keep the federal funds rate unchanged at close to zero, and again reiterated in a longer period to keep interest rates low level of commitment in the abnormal. At the same time, the Fed acknowledged slow the pace of U.S. economic recovery.
        
Federal Open Market Committee (FOMC) maintained the federal funds rate in the 0-0.25% range, in line with market expectations. The Fed also maintained the discount rate unchanged at 0.75%.
        
EIA inventory data to support the United States last week, the Federal Reserve that view. EIA data showed U.S. crude oil inventories increased by 200 million barrels last week.
        
Although the United States President Barack Obama (Barack Obama) Government's decision to ban the Gulf of Mexico deep-sea oil exploration, U.S. crude oil inventories are still rising.
        
Weinberg said: "The key psychological price of crude oil is 75 dollars, if oil prices dropped below the price would be subjected to further selling pressure." (Cold green)

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