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Crude oil fell below $ 85 9 Lianyin, upward pressure on domestic prices of non-retired
Source:China Fertilizer Net   Author:Chen Fang   Time:2011-02-17   Read:1062second  

Falling international oil prices recently, out of the rare "9 Lianyin", the price fell below 85 U.S. dollars / barrel mark.

New York Stock suppression of high oil prices

        
New York Mercantile Exchange (NYMEX) 3 month crude futures since Feb. 3 started to decline, mainly due to easing the situation in Egypt, then in the February 8 to February 10 a slight concussion, but the 11 February the President of Egypt Following the resignation of President Hosni Mubarak, the international oil prices increase again deep down.

        
As of Tuesday, the international oil price fell to 84.32 U.S. dollars / barrel in electronic trading yesterday, although international oil prices rebound, but remain at 85 dollars a day below the shock.

        
"NYMEX crude oil futures falling mainly due to crude oil futures delivery - Cushing crude oil stocks high." Crude oil futures analyst at Everbright months, said Liu.

Limited room for further decline

        
"On the other hand, the current consumption is gradually declining oil prices one of the factors." Futures Research in Guangzhou Luo Qiang, deputy general manager, said, in general, after entering February heating oil demand will gradually decline, from a historical point of view , February probability of falling international oil prices is relatively large.

        
However, international oil prices continue downward little space, "On the one hand, in March began to gasoline consumption will increase, on the other hand, global economic growth will increase demand for crude oil, so at 85 dollars / barrel to continue down the space below not, once the summer season of gasoline consumption, oil prices are expected to turn up. "Liu said months.

Upward pressure on domestic prices of non-retired

        
Continued to decline in international oil prices failed to ease the domestic pressure on oil price increases, according to statistics, as of February 15, Brent, Dubai, Cinta three weighted average price of crude oil is still 22, a price adjustment over the previous high a 11.09%, exceeding the price adjustment request. In fact, the domestic refined oil price before the Spring Festival had the window open, but after the Spring Festival, or no oil price increase. Liao Shun Wang income energy analyst, said recently raised the possibility of refined oil prices are still relatively large. (Chen Fang)

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