International oil prices on Tuesday (December 21) the European market rose in early trading consecutive 3 days. Oil by the United States and Europe, cold weather, as well as the expected decline in U.S. crude stocks supported.
Nymex 2 month futures rose 22 cents to 89.59 U.S. dollars / barrel, the target point to the 2-year high of $ 90.76.
German commercial banks (Commerzbank) analyst Eugen Weinberg said the cold weather pushed up oil prices as investors, the best excuse. Institutional investors will be expected to hold more long positions.
Heating oil futures also found support on expectations that heating oil market as a major northeastern United States below normal temperatures the next 6-10 days, will lead to increased demand.
Weinberg and other analysts expect the decline in gasoline demand will offset the growth in demand for heating oil, as cold weather forced the residents had to stay home.
Survey data released Tuesday showed U.S. crude stocks last week, may drop out because of the refinery by the end of tax considerations continue to reduce inventories of raw materials, leading to declining imports. Analysts expect, including heating oil and diesel fuel distillate stocks fell, including 50 million barrels, gasoline inventories increased by an average of 160 million barrels.
The data released Tuesday show that China's kerosene imports hit a record high in November 86.1388 million tons, up nearly 61% per annum. (Ling Lan)