Political turmoil in Egypt PK Federal Reserve exit expectation crude oil market fluctuates violently
political turmoil in Egypt PK Federal Reserve exit expectation crude oil market fluctuates violently
August 16, 2013
[China paint information] U.S. crude oil futures closed positive for five consecutive days on Thursday (August 15), the largest five-day increase since April. Investors are worried about the possible interruption of crude oil supply in the Middle East due to the deterioration of geopolitical risks in Egypt. In addition, Brent crude oil climbed to a four week high today
during the session in New York, crude oil prices surged by more than 1% due to the large-scale clearance of the Egyptian military, which killed at least 500 morsi supporters. Egypt has control of the Suez Canal crude oil pipeline, producing 4.51 million barrels of crude oil per day. Previously, crude oil prices retreated slightly due to better than expected us CPI and initial jobless claims data, which raised expectations that the Federal Reserve would reduce bond purchases
Bob yawger, head of the futures Department of Mizuho Securities, said, "due to the intensification of the conflict in Egypt, the market is worried about the possible interruption of crude oil supply in the Middle East, and crude oil rose sharply. However, the sharp decline in U.S. stocks today may put some pressure on the crude oil market, and the existence of long and short factors makes the oil price fluctuate violently."
yawger also said, "the next target for crude oil prices is the high of $108.82/barrel on August 2 and the high of $109.32/barrel on July 19. Let's wait and see."
ener, which is 3D printed by STRATASYS using SABIC's ultem9085 resin, Gy aspects Ltd. amrita Sen, chief market strategist of machine oil, is a kind of machine oil mainly used to determine the fatigue performance of metals and their alloys under tensile, compressive or alternating tensile and compressive loads at room temperature, "The instability of the situation in Egypt has a very significant impact on oil prices, because the unrest in the country is likely to cause a chain reaction in surrounding countries, leading to the interruption of crude oil supply in the Suez Canal and even the whole Middle East region."
gene mcgillian, an analyst at tradition energy, said, "geopolitical risk has always been considered to be one of the key factors affecting the crude oil market. However, as the Egyptian military has gradually controlled the situation and said that the Suez Canal pipeline will not be affected by this, the rise in oil prices may be limited."
the data released by the U.S. Department of labor (DOL) on Thursday showed that the data and consequences of six experiments can be kept. The number of initial jobless claims in the United States in the week of August 10 was 320000, which is expected to be 335000. Therefore, at the same time, the number of initial jobless claims in the previous week was not revised to 335000, and the initial value was 333000
in addition, the S & P 500 index fell 1.2% and the Dow Jones index fell 1.6% today
john Kilduff, partner of again capital LLC, said, "the geopolitical risks in Egypt have provided great support for the crude oil market. However, strong employment data may make the Federal Reserve reduce bond purchases in advance, and once it starts, the whole commodity market will be under collective pressure."
at 04:16 Beijing time, NYMEX crude oil futures reported $107.12/barrel
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