NYMEX crude oil futures ended sharply lower 12, the market revived worries about Europe, NYMEX 1-month crude oil futures contract closed at $ 97.77 a barrel, or 1.7 percent, the lowest since November 25.
Integrated media reported on December 12, following the decline of other risk assets, the New York Mercantile Exchange (NYMEX) crude oil futures ended sharply lower 12, the market worried about the measures taken by European leaders last week could not prevent the euro area economy into recession. Dampen market sentiment. Meanwhile, China's export prospects for oil demand growth slowed further to make Mengyin.
NYMEX 1 月 light, sweet crude oil futures contract settlement price fell $ 1.64 to $ 97.77 a barrel, down 1.7%, the highest since November 25, the lowest settlement price. ICE January Brent crude settled down $ 1.73 to $ 107.26 a barrel.
Market and the EU summit of European leaders to modify the treaty to strengthen economic integration in Europe faded optimism of action, resulting in crude oil futures on the 12th, the euro exchange rate and the main stock markets fell across Europe, the market risk aversion instantaneous heating.
Fitch Ratings (Fitch Ratings) 12 Date is expected in the short term the European economy will decline significantly, and said last week's summit to ease the pressure on sovereign debt crises with little success. Previously, Moody's said last week's EU summit failed to reach a "decisive policy measures" to end the debt crisis.
Prior to Moody's issued a warning in the S & P (Standard & Poor's) last week said it may cut in Germany and France "AAA" sovereign credit rating, and 17 country euro zone may downgrade the credit ratings into the watch list.
According to the China General Administration of Customs (customs bureau) 10 announced that China exports in November rose 13.8%, worse than the growth rate of 15.9% in October.
President of Strategic Energy & Economic Research Lynch (Michael Lynch) said, "Moody's statement actually affected the market sentiment. Because of the European crisis and China's economic slowdown into 2012 global oil demand will be very weak probability of a lot."
At the same time, traders are closely watching the Petroleum Exporting Countries (referred to as: OPEC) oil ministers of member states meeting in 14 days before the remarks. OPEC is widely expected to agree to maintain current production levels unchanged.
According to sources, the Petroleum Exporting Countries (OPEC short: OPEC) Economic Committee (Economic Commission Board) 12, said OPEC should maintain the existing 2012 production unchanged. A representative said the Economic Commission for 2012 global oil demand growth forecast by 100,000 barrels.
January RBOB gasoline futures fell 3.25 cents to settle at, to $ 2.5636 a gallon, down 1.3%. NYMEX 1 December heating oil futures fell 1.64 cents to settle at, to $ 2.8961 a gallon, down 0.6%. (By piano)