In what year did our crude oil price hit a record high of $147?

In what year did our crude oil price hit a record high of $147?

In addition, the market is worried that light crude oil produced in the Permian and heavy crude oil from Canada will forIn what year did our crude oil price hit a record high of $147?m a competitive situation. Because the latter is cheaper, refineries on the Gulf Coast favor it. In addition, heavy crude oil can be refined to obtain refined oil with lower sulfur content, which meets the maritime fuel emission standards that will be implemented by the International Maritime Safety Administration from 2020. At that time, its demand will further increase, which will put more pressure on pipeline capacity. This is likely to be the same as last year, preventing crude oil from reaching the coast, but instead being backlogged in Cushing, thereby depressing WTI oil prices.

The US Energy Information Administration EIA released a report on Wednesday May 2 that showed that as of the week of May 8, US crude oil inventories increased by 5.78 million barrels to 800 million barrels, and the market estimated a decrease of 570,000 barrels.

However, the increase in the net long warehousing of fuel, especially gasoline in the United States, played a certain offset. The net long warehousing of gasoline in the US increased by 4 million barrels. In addition, US heating oil and European diesel net long warehousing also increased slightly, increasing by 26 million barrels and 2 million barrels respectively.

The trading behavior of participants in the futures market is affected by the changes in monetary policy and risks in the international financial market, resulting in frequent flow of funds between major investment transactions such as futures, stocks, bonds, and cross-border flows of international capital. In an environment where international oil prices are priced in U.S. dollars, changes in U.S. monetary policy directly affect the value of the U.S. dollar, and result in a highly negative correlation between international oil prices and U.S. dollar values.

Bank of America Merrill Lynch analyst Francisco Blanche said that the oil market is expected to exceed supply in 209 by 400,000 barrels per day, which is higher than the previous estimate of 0 million barrels per day. Iran's crude oil supply caused by US sanctions The decline may be higher than previously expected, and the Brent crude oil price target for the end of the second quarter of 209 has been raised from US$90 to US$95/barrel.

Refined oil mainly includes gasoline, kerosene, diesel and fuel oil. Generally speaking, in the processing of crude oil, the lighter components are always separated first. Fuel oil (FuelOil, as a kind of refined oil, is The heavier residual product separated from crude oil afIn what year did our crude oil price hit a record high of $147?ter gasoline, coal, and diesel in the petroleum processing process.

Sometimes I see price increases and I dare not stick to my own opinions. I always figured that I would buy it as long as the spot crude oil passed the certain price. After looking at the future development, the market went up and I wanted to catch up with the market and there was no suitable price. Sometimes I see the price drop and I have realized that the trend is not good, but I always have illusions. As long as the spot crude oil price passes a certain price, I will sell it, and there may be a rebound. As a result, the spot crude oil drops sharply.

On Tuesday, May 8th, the U.S. Energy Information Administration EIA released its monthly short-term energy report, which showed that both the 208 and 209 U.S. crude oil production expectations were revised upwards. Among them, the US crude oil production forecast in 208 was raised by 0.% to 0.72 million barrels per day, and the forecast for 209 was raised by 6% to 860,000 barrels per day.

Oil prices rose after OPEC took the lead in reducing production, which prompted competitors to increase supply. The increase in shale oil production in the United States is particularly typical. OPEC predicts that non-OPEC supply will increase by 860,000 barrels per day this year, which is about 10,000 barrels per day higher than last month’s estimate.

Iran warned India in July that if it cuts imports of Iranian oil, it will lose its privileges at Chabahar Port. But at the same time, Iran provides India with conveniences such as insurance and shipping, and agrees to pay by India at CIF to attract India to continue importing Iranian crude oil. If India complies with US sanctions, Iran’s crude oil exports will drop to around 500,000 barrels per day.