Rating expectations to suppress demand prospects, international oil prices have closed down sharply

21st Century Business Herald reporter Peng Qiang Beijing report

On September 20, investors expect that the European and American central banks may further raise interest rates, and the US dollar has continued to maintain a strong strength. The outlook for oil demand is under pressure, and international oil prices have closed sharply.

As of the morning of September 21, Beijing time, the price of WTI crude oil futures delivered in October fell 1.49%to close at $ 84.45/barrel. /bucket.

Recently, the Fed's expectations have further raised interest rates. Many major central banks, including the British Central Bank, will also hold a meeting this week. The European Central Bank Ragarde said that it is expected to further increase interest rates and the prospect of inflation will determine the ultimate range of interest rate hikes.

The expectation of interest rate hikes will put pressure on the stock market, and the trend of the oil market is usually synchronized with the stock market. In addition, higher interest rates support the US dollar to high in the past 20 years, and oil products have become more expensive for other currency holders.

Since late August, international oil prices have further declined, and now they have been vomiting all the increase since January. On September 8th, the price of WTI crude oil futures fell to $ 81.2/barrel, and Brent crude oil fell to the minimum of $ 86.57/barrel.

UBS commodity analyst Giovanni Staunovo said that the oil market is between downward concerns and hopes for upward, and is worried that it is driven by the US and European radical currency tightening policies, which increases the possibility of economic recession and is global oil demand for oil demand The prospects cause pressure.

At the same time, the United States will continue to release crude oil reserves to consolidate low oil prices. On September 19, the US Department of Energy issued a statement saying that in November this year, 10 million barrels of low -sulfur crude oil reserves will be released in November this year to consolidate low oil prices.

Earlier, the US Department of Energy plans to release 180 million barrels of crude oil reserves in May this year to suppress international oil prices that continue to rise. At present, 155 million barrels of crude oil have been delivered or promised not to be delivered in late October.

CITIC Futures Research Report pointed out that with the slowdown of overseas economic growth and the tightening of the European and American central banks, financial attributes may continue to weaken, causing large downward pressure on crude oil prices in the fourth quarter; Attractive pressure is gradually increased, and the inventory recovery will also lead to the gradual movement of crude oil valuation support.

CITIC Futures pointed out that the main uncertainty of the current market comes from geopolitics, such as the progress of negotiations between the Iranian nuclear agreement, the statement of Saudi Arabia, the EU sanctions on Russia, the European energy crisis and the upper limit of export prices.

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