May record price of oil rose 29.7% in the past 10 years the biggest monthly gain – refractory
Am Beijing time on May 30, in Asian countries and the economic data point to U.S. crude oil inventories are driven by global economic recovery, New York's main oil futures contract closed higher for a fifth day. According to the most recent closing price of the contract, the May's 29.7% rise in oil prices trading, the highest March 1999 monthly rise since a new record.
2:30 pm midday (GMT Sat 2:30), the New York Mercantile Exchange, July crude contract rose 1.23 dollars to close at 66.31 U.S. dollars, or 1.9%. Session of the highest value of 66.47 U.S. dollars contract. This week's trading in the oil price increase of approximately 7.5%.
Munich BayernLB body oil trading division Garrett – jambo (GerritZambo), said, "Although the physical economy is still mired in recession, but now we've seen some signs of improvement in the situation." He said, "Those who do not wish to missed opportunities for investors to buy low price have put their money into the oil market. "
U.S. Department of Energy Thursday reported that U.S. crude oil inventories last week fell by 541 million barrels, down to 3.631 million barrels, which is the Gulf of Mexico last September after hurricanes hit the maximum number of decline in crude inventories. Analysts had predicted stocks would be reduced by 15 million barrels per week.
Crude oil inventories last week despite the decline, but the total is still higher than the recent 5-year moving average 27% higher; the previous week's total crude oil inventories 23% higher than the same period last year. As of May 1st week of the crude oil inventory figure was the highest since 1990.
Commonwealth Bank of Australia (Commonwealth Bank ofAustralia) in Sydney strategist David – Moore (DavidMoore) said, "Although oil prices have soared, but the oil market fundamentals are still relatively fragile."
The U.S. Department of Energy report showed Thursday, oil refineries capacity utilization was 85.1%, higher than the previous week increased by 3.3%, the largest increase since last October. Gasoline inventories fell by 53.7 million barrels, down to 2.034 million barrels, to its lowest level since December 5.
Saudi Oil Minister Ali – Al – Naimi (Alial-Naimi) said the Organization of Petroleum Exporting Countries (OPEC) that the current "oil price appropriate, the market in good condition" and therefore decided to maintain current production quotas unchanged.
OPEC Secretary-General Abdalla el-Badri (Abdallael-Badri) said today, promoting the rise in oil prices is mainly due to increased confidence in global economic growth, rather than driven by market demand conditions.
Badri told reporters in Vienna today, the current global oil inventories remain very high. In addition, the end of this year when he expects crude oil futures prices will reach 70 to 75 U.S. dollars per barrel, in part because speculators will once again return to commodities futures market.
Japanese officials today reported that in April than in March industrial output up 5.2%, exceeding market expectations; March industrial output grew 1.6% in the chain. Economists expected industrial production in Japan in April to 3.3%, Central Bi Zeng. There were also reports showed that Japanese companies ready in May and June to increase production.
Furthermore, as Asia's third-largest economy, India Today reported, the government expenditure and
Building industry
Growth promotion, in the first quarter GDP rose 5.8%. Analysts had expected the first quarter of the country's GDP will grow by 5%
I am an expert from disposablemedicalsuppliers.com, usually analyzes all kind of industries situation, while disposablemedicalsuppliers.com provides the latest news, industry report and quality product, such as Yoga Netipot , Yoga Neti Pot disposable medical suppliers factory, disposable medical suppliers exporter, disposable medical suppliers wholesaler, disposable medical suppliers distributor , china disposable medical suppliers companies
Processing your request, Please wait....
