International Energy Newsletter: Affected by market concentration of European Central Bank (ECB) and Federal Reserve (Fed) interest rate meetings, US President’s package of employment plans and last week’s crude oil inventories, international oil prices held steady at high levels on Thursday (September 8th). .
Analysts said that the market's focus is on macroeconomic news and its impact on fuel demand. It is expected that the tropical storm will bring deeper damage to US crude oil and natural gas infrastructure and oil prices will be moderately supported.
David Hufton, executive director of PVM Oil Associates, an international energy consultancy and brokerage firm, said: “Oil prices are controlled by the development of macro financial markets, but macro financial development is affected by accidental local development. Ben Bernanke spoke this afternoon, while Obama ( Speaking tonight, the tropical storm on the Gulf is raging and other factors that will affect oil prices."
As of 20:05 GMT, Brent crude oil prices fell 0.03 US dollars to 115.77 US dollars / barrel, earlier fell to 114.74 US dollars / barrel low; US Nymex crude oil prices rose 0.05 US dollars, to 89.39 US dollars / barrel.
Brent crude oil prices hit a high of $116.50/barrel since early August and hit the 100-day moving average that has been suppressing oil prices since August on the closing market on Wednesday.
There are only technical analysts, and Brent crude recently received resistance near $116.83.
The US Energy Information Administration (EIA) will announce the latest weekly crude oil demand and inventory data on Thursday. A survey of economists by the American business media is expected to show that crude oil inventories will increase in the United States last week due to the closure of oil refineries by the approaching tropical storm. Three upcoming tropical storms Nate, Maria and Katia are expected to produce crude oil in the United States.
Analysts said that the market's focus is on macroeconomic news and its impact on fuel demand. It is expected that the tropical storm will bring deeper damage to US crude oil and natural gas infrastructure and oil prices will be moderately supported.
David Hufton, executive director of PVM Oil Associates, an international energy consultancy and brokerage firm, said: “Oil prices are controlled by the development of macro financial markets, but macro financial development is affected by accidental local development. Ben Bernanke spoke this afternoon, while Obama ( Speaking tonight, the tropical storm on the Gulf is raging and other factors that will affect oil prices."
As of 20:05 GMT, Brent crude oil prices fell 0.03 US dollars to 115.77 US dollars / barrel, earlier fell to 114.74 US dollars / barrel low; US Nymex crude oil prices rose 0.05 US dollars, to 89.39 US dollars / barrel.
Brent crude oil prices hit a high of $116.50/barrel since early August and hit the 100-day moving average that has been suppressing oil prices since August on the closing market on Wednesday.
There are only technical analysts, and Brent crude recently received resistance near $116.83.
The US Energy Information Administration (EIA) will announce the latest weekly crude oil demand and inventory data on Thursday. A survey of economists by the American business media is expected to show that crude oil inventories will increase in the United States last week due to the closure of oil refineries by the approaching tropical storm. Three upcoming tropical storms Nate, Maria and Katia are expected to produce crude oil in the United States.
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