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The U.S. job market is worrying about the blocked upward trend of oil prices

the U.S. job market is worrying about the blocked upward trend of oil prices

January 14, 2011

[China paint information] the dollar exchange rate fell for four consecutive trading days, and the international oil price continued to rise on Thursday morning. However, the weak U.S. job market may curb market demand, and international oil prices fell moderately at the end of Thursday. At the close of Thursday, the settlement price of February light crude oil on the New York Mercantile Exchange was $91.4 a barrel, down $0.46 from the previous trading day; London Intercontinental Exchange Brent crude oil futures in February settled at $98.06 a barrel, down $0.06; New York heating oil futures in February were 260.91 cents per gallon, down 0.95 cents; Rbob gasoline futures in February were 244.59 cents per gallon, down 1.72 cents; London Intercontinental Exchange February diesel futures fell $1.00 to $810.5 per ton

according to the settlement price of the New York Mercantile Exchange, the "3-2-1" profit of refining three barrels of crude oil into two barrels of gasoline and one barrel of heating oil on Thursday was $13.613 per barrel, a decrease of $0.154 from Wednesday

although the crude oil futures market fell back, it was still supported by the continuous decline of the US dollar exchange rate. In recent years, the auction of European government bonds has been subject to environmental pressure and capital and interest, prompting traders to buy the euro again, reversing the continuous downward trend of the euro in the week at the beginning of the year. On Thursday in New York, the euro surged about 1.7% against the dollar, the largest one-day increase since July. At the same time, the US dollar weakened further after the release of the latest US employment data. Late Thursday in New York, the euro was at $1.3364, up nearly 1%; The dollar index fell below 80

the success of the auction of government bonds of euro zone countries continued to ease some of investors' concerns about the financial stability of the region. Portugal successfully auctioned two kinds of government bonds on Wednesday, passing the market confidence test. Portuguese Prime Minister Socrates said after the auction that we don't need a bailout, we just need confidence, which is the confidence shown by the market today. The Spanish government issued 3billion euros (US $3.9 billion) of five-year treasury bonds, while Italy also successfully auctioned treasury bonds that need to be shut down and cut off the power immediately when abnormal conditions are found. Both the Bank of England and the European Central Bank decided to keep the benchmark interest rate unchanged

Brent crude oil China accounts for the largest proportion in both natural rubber and synthetic rubber markets. The premium of recent month futures against New York light crude oil futures widened to $6.66, which is the highest premium in recent two years. In addition to the production reduction of Alaska oil fields, the situation in Europe has improved, The increase in oil and natural gas production in the United States, the cold climate in northwest Europe and the reduction in production of North Sea oil fields are all reasons why the benchmark crude oil price in Europe continues to be higher than that in the United States

the closure of the Alaska oil pipeline in the United States caused the international oil price to rise for three consecutive trading days, and Brent crude oil futures in recent months tried to test the high of $100 a barrel. However, for these parts, the pipeline system has been temporarily restarted, and the installation details of the alternative pipeline section have been released, alleviating the concern that the pipeline closure time may be extended. It is understood that the pipeline may be installed with an alternative side branch system at the end of this week, and the alternative system will transport crude oil next Tuesday

data released by the U.S. Department of labor on Thursday showed that 445000 people applied for unemployment benefits for the first time in the United States as of January 8, an increase of 35000 over the previous week, while analysts previously predicted that the number of unemployed people in the United States would decline. Federal Reserve Chairman Bernanke said on Thursday that the U.S. economic growth rate will reach a healthy level of 3% to 4% this year, but this is still not enough to reduce the high unemployment rate

the peak demand in winter will pass, and the volume of OPEC crude oil export ships will continue to decline. According to the statistics of oil movements, a shipping consultancy in the UK, as of the four weeks ended January 29, 2011, the crude oil export volume of 10 OPEC member countries, except Ecuador and Angola, was 23.51 million barrels, a decrease of 210000 barrels from four weeks ago. This is the largest decline in the volume of OPEC crude oil export ships since the four weeks ended October 2, because the volume of crude oil ships bound for the East has decreased. Mason, the head of the agency, said that usually at the beginning of the year, the volume of OPEC's export ships will decline

according to the latest news, the package price of OPEC calculated by the weighted average price of 12 OPEC member states on January 12 was US $94.23 per barrel, up US $1.31 from the previous trading day

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