Source:China Fertilizer Author:Qiao Jihong Time:2012-05-12 Read:825second
Subject to European debt concerns, the Chinese economic data and other factors, the crude oil market sentiment in international oil prices fell on the 11th for the second consecutive weekly fall.
Europe, Greece on the 6th parliamentary elections after the delays in forming a new government, once again the possibility of parliamentary elections to increase. In addition, Spain, following the take over their own fourth-largest bank in the 9th, the day to start a "health check" on the nation's banking system, intended to strengthen the domestic financial system, but the Spanish bond yields remain at high levels. Investors' worries about the debt crisis in Europe is still the weight of the market.
China the day of official data showed, in April, above-scale industrial added value increased by 9.3 percent, the smallest gain since May 2009. The day plus before China announced trade data disappointed the market, investors worried about the prospects for oil demand on the world's second largest oil-consuming countries, and lower prices.
Moreover, due to the increase in OPEC oil output, the U.S. oil inventories for 7 consecutive week of gains, an adequate supply has continued to put pressure on oil prices.
However, the initial value of the Reuters / University of Michigan released May U.S. consumer confidence index rose to 77.8, its highest level since more than four years. This data to boost market confidence in the stock market swept away before the huge loss due to JPMorgan Chase Bank $ 2,000,000,000 haze, turn up, oil prices decline narrowed.
To the closing, the New York Mercantile Exchange, light sweet crude for June delivery fell 95 cents to close at $ 96.13 a barrel, down 0.98 percent. Look at the whole week, the New York oil prices following last week plunged 6.14 percent, dropped by another $ 2.36, down 2.40%.
The same day, June Brent crude oil futures prices edged down 47 cents, to close at $ 112.26 a barrel, down 0.42 percent the week down 92 cents, weekly decline of 0.81%. (Qiao Jihong)