The data released by the Secretariat of the Organization of the Petroleum Exporting Countries (OPEC) on the 18th showed that the average price of the OPEC market supervision crude oil package rose to US$112.12 per barrel last week.
This is OPEC's weekly oil price rise for the second consecutive week. Compared with the increase of more than 4 US dollars in the previous week, the increase of less than 3 US dollars last week showed that the rise in oil prices has weakened. Last week, except for a one-time jump on Wednesday (October 13), OPEC oil prices pushed the oil price higher by 2.18 US dollars, and the other 4 trading days all declined slightly.
Analysts said that the trend of the US dollar and the resolution of the European debt crisis will be two important factors affecting the trend of oil prices in the future. On the 12th of this month, the exchange rate between the euro and the U.S. dollar has fallen below 1 to 1.4, reaching the lowest level in nearly seven weeks. Later speculation that the Fed may once again introduce a quantitative easing monetary policy once weighed on the dollar and made the potential strong support for oil prices. But two days later, the Fed ** Bernanke said that in the short term the Fed will not introduce quantitative easing monetary policy again. This statement has disappointed investors in the bearish US dollar index and made it possible to recover the US dollar exchange rate. Therefore, this will pressure the future of oil prices.
In addition, the international crude oil market's concern over the prospects of the White House and the Congress regarding the debt negotiations and the possibility of a US debt default may also play a role in suppressing the rise in oil prices.
At the same time, the prospects for resolving the European debt crisis remain uncertain. In addition to the impact of some small euro-zone countries, Italy and Spain and other large euro-zone countries are also facing **. This week EU leaders will meet to discuss solutions to the European debt crisis. The market questioned whether the meeting could introduce effective measures to limit the further spread of the European debt crisis. This will continue to support the US dollar to a certain extent, which in turn will increase the possibility of the international oil price falling back into the downtrend.
This is OPEC's weekly oil price rise for the second consecutive week. Compared with the increase of more than 4 US dollars in the previous week, the increase of less than 3 US dollars last week showed that the rise in oil prices has weakened. Last week, except for a one-time jump on Wednesday (October 13), OPEC oil prices pushed the oil price higher by 2.18 US dollars, and the other 4 trading days all declined slightly.
Analysts said that the trend of the US dollar and the resolution of the European debt crisis will be two important factors affecting the trend of oil prices in the future. On the 12th of this month, the exchange rate between the euro and the U.S. dollar has fallen below 1 to 1.4, reaching the lowest level in nearly seven weeks. Later speculation that the Fed may once again introduce a quantitative easing monetary policy once weighed on the dollar and made the potential strong support for oil prices. But two days later, the Fed ** Bernanke said that in the short term the Fed will not introduce quantitative easing monetary policy again. This statement has disappointed investors in the bearish US dollar index and made it possible to recover the US dollar exchange rate. Therefore, this will pressure the future of oil prices.
In addition, the international crude oil market's concern over the prospects of the White House and the Congress regarding the debt negotiations and the possibility of a US debt default may also play a role in suppressing the rise in oil prices.
At the same time, the prospects for resolving the European debt crisis remain uncertain. In addition to the impact of some small euro-zone countries, Italy and Spain and other large euro-zone countries are also facing **. This week EU leaders will meet to discuss solutions to the European debt crisis. The market questioned whether the meeting could introduce effective measures to limit the further spread of the European debt crisis. This will continue to support the US dollar to a certain extent, which in turn will increase the possibility of the international oil price falling back into the downtrend.
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