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Middle East crude oil prices fell again vista
Source:China Fertilizer Network   Author:Pan Xuan   Time:2013-09-22   Read:685second  

 International oil prices plunged Thursday, so before Wednesday (September 18) after the release of the Fed resolution wave of short-covering appeared exhausted, while traders have begun to refocus Libya increased production status, while around Iran's geopolitical political concerns have eased. 

Wednesday, Brent and U.S. crude futures were recorded its biggest one-day gain in three weeks, the Fed decided to keep the size constant stimulation, which dragged down the weaker dollar, triggering the demand for risky assets. And the Fed do anything unexpected news faded, the market turned its attention to Libya's oil production increased, as well as Western countries have diplomatic relations with Iran to improve the situation. 
Analysts said the market sentiment after oil prices rose in the previous failure to maintain, as investors realized that the Fed is because the Fed to maintain stimulus that the U.S. economy is still in recovery mode, which means that U.S. oil demand will be reduced. 
The market's focus turned to the Middle East. The same day, Iran's president Rohani said the country do not want to provoke a war, will not develop nuclear weapons. He also said that he is entitled to consult with the United States to seek an agreement. Another Libyan oil production soared also stress oil prices. A month by the impact of the strike, the country's oil supply severely disturbed. Currently Libya's oil production has been restored to pre-war production capacity of about 40%. 
November Brent crude futures fell 1.66 percent, or $ 1.84, at $ 108.76 a barrel. U.S. October crude oil futures on Friday (September 21) expires, the contract fell 1.55 percent, or $ 1.68, to close at $ 106.39 a barrel. Brent intraday premium against U.S. crude narrowed to $ 2.68, closing at $ 2.90 a barrel, far below the disturbed Libyan supply pushed Brent prices recorded during a high of more than $ 8.
 
 
 
 
 
 
 
 
 
 

 

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