International oil prices have continued to fall!

Wednesday and Thursday,

International oil prices have plummeted for two consecutive days,

In the last four trading days, three major plumments have occurred.

Originally raised

New changes in domestic gasoline and diesel prices.

If the next three working days,

International oil prices do not fluctuate,

Next Tuesday night,

Domestic oil prices are expected

The "four consecutive drops" appeared slightly.

News about international oil prices plummeted on August 5th

It also rushed to Weibo hot search

In the early morning of August 5th, Beijing time,

New York crude oil futures closed below $ 90/barrel,

Report 87.8 US dollars/barrel, a decrease of 3.15%,

Not only has all the gains since the Russian and Ukraine conflict,

And set a new low in five and a half months.

One day before,

New York crude oil futures fell 3.71%,

This Monday fell 4.61%.

Brent crude oil futures

In the early morning of August 5, Beijing time

The closure fell 3.29%,

The previous day fell 3.42%,

Monday fell 3.89%.

but,

Because of a few days before

International oil prices have risen continuously,

up to now,

In this round of price adjustment cycle

Average international oil price,

With the previous round of price adjustment cycle

Compared with the average price of international oil prices,

The decline is not large.

During the "Sanlian Downsa" period, the cumulative amount of gasoline in our province was reduced by 0.79 yuan per liter, and private cars filled a box of oil to save 39.5 yuan; the cumulative increase of 0.83 yuan per liter of No. 95 gasoline. At present, the No. 92 gasoline in our province is 8.5 yuan/liter, and 95 gasoline is 9.05 yuan/liter, which means that once the possibility It's big.

Recently, the decline in international oil prices is due to various reasons. First of all, the prospect of the global economic recession has led to a decline in demand for crude oil.

Due to the intensification of inflation, the Federal Reserve has raised interest rates for 75 basis points for two consecutive months, which is the largest single rate hike in the Fed since 1994. In the context of the Federal Reserve's interest rate hikes, central banks from various countries have been forced to raise interest rates (otherwise the interest margin with the US dollar is large, funds have escaped or returned to the United States, which has a greater impact on the economy).

On July 21, the European Central Bank announced that it had raised interest rates 50 basis points. This was the first time the European Central Bank's 11 years of interest rate hikes, which also marked the end of the euro area's negative interest rate. On August 4th, the Bank of England announced the interest rate hikes 50 basis points, raising the benchmark interest rate from 1.25%to 1.75%. This is the largest interest rate hike since 1995. It is also the sixth rate hike of the Bank of England since December last year.

However, interest rate hikes will also significantly increase the financing costs of enterprises, causing concerns about the global economic recession, which has further declined the market's expected demand for crude oil.

Secondly, factors such as OPEC crude oil continuously increased production and increased US crude oil inventory have also affected the trend of oil prices to a certain extent.

On Wednesday, OPEC agreed to increase the daily output of 100,000 barrels in September. Although the increase in July and August, it was also the smallest increase since 1986. However In the context of declining demand, OPEC will not increase the output of crude oil.

According to the US Energy Information Administration, in the week of July 29, US crude oil inventory increased by 4.5 million barrels, and gasoline inventory increased 200,000 barrels. Previously, the market was generally expected to decrease crude oil and gasoline inventory. The reason for the increase in inventory is the decrease in US crude oil exports and a decrease in enthusiasm for crude oil processing.

In addition, as a sudden factors that stimulate international oil prices in the first half of this year, the Russian -Ukraine conflict has a long -term trend, and the marginal effect of international oil prices has also weakened.

According to Citibank's prediction in a report on July 5, due to economic recession, oil prices may fall to $ 65/barrel before the end of the year, and by the end of 2023, it may fall to $ 45/barrel.

Source: Qianjiang Evening News

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