The hottest Iranian nuclear crisis softened, and t

2022-08-09
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Iran's nuclear crisis softened and the price fell another $1

with Iran's softening of its position on nuclear issues, international oil prices fell again by $1 to below $61 a barrel after a strong rebound on Friday morning. At the close of Friday, November light crude oil futures on the New York Mercantile Exchange were $60.55 a barrel, down $1.04 from the previous trading day; November Brent crude oil futures on the London Intercontinental Exchange were $60.41, down $0.93; October heating oil futures in New York were 164.72 cents per gallon, down 3.16 cents; Gasoline futures in October closed at 147.12 cents per gallon, down 2.82 cents; Rbob gasoline futures in October closed at 151.99 cents per gallon, down 1.39 cents from the previous trading day; London Intercontinental Exchange October diesel futures closed at $533.75 per ton, down $5.50 from the previous trading day

balclair capital bank said in its report that it was too early to stop the downward trend of oil prices. The U.S. inventory data released on Wednesday showed that the increase of distillate oil was quite large, and the possibility of further decline of refined oil exists. Geopolitical tensions between Iran and the United States are also easing

on the Iranian nuclear issue, the United States and Iran, two countries with different hard line positions, have made concessions. U.S. President Bush is willing to negotiate with Iran after the negotiations between the European Union and Iran have achieved success, while Iranian President Ahmadinejad said at the United Nations General Assembly that Iran is willing to continue negotiations with the European Union on its nuclear issue and is willing to suspend uranium enrichment activities under "fair and just" conditions

James ritterbusch, President of ritterbusch associates, an Illinois consulting firm, believes that Iran seems willing to make some concessions, so that more risk premiums in the market will be released

the Iranian nuclear issue has been delayed for half a year, and Iran's long-term tough attitude has made Europe and the United States at a loss. A diplomatic solution to the Iranian nuclear issue has become a common consensus in the international community. ANZ and clamping unit 1 slide into the test piece bank analyst Harrington believes that the UN's response to the Iranian nuclear issue has cooled, and what we see is high inventories and alleviated gasoline demand

however, the trend of approaching the peak demand in winter and the possible production reduction of OPEC may save the speculators who have suffered heavy losses. Michael Coleman, partner of Singapore hedge fund Aisling analytics, said that the market has experienced considerable selling, and the continuous downward atmosphere needs continuous bad news guidance. I don't think we will have bad news again. I think the price may be stable and consolidated. Despite the 90 degree stripping of inventory, we are ready to enter the winter, and geopolitical tensions are easing, but it will also be easily repeated

in the past few years, Saudi Arabia's oil minister has always believed that the price of $60 a barrel is too high, but this week, the world's largest oil export leader believes that the current oil price is at a reasonable price, which is acceptable to both consumers and producers

analysts believe that demand is still strong and supply is still limited, and the rebound in oil prices is reasonable. In terms of demand, the average demand for U.S. oil products on the fourth Sunday was 1.6% higher than the same period last year; Among them, the demand for gasoline was 3.1% higher, and the demand for distillate oil was 2.5% higher than that of the same period last year; In the weekly demand, although the daily demand for gasoline in the United States decreased by 139000 barrels; However, the average daily demand for distillate oil increased by 86000 barrels. With the seasonal decline of gasoline, the market has been paying attention to the supply in winter

in terms of supply, Nigeria's crude oil production has decreased by 1/3, which means that the world's crude oil supply has decreased by more than 700000 barrels per day. Limited by the surplus capacity, OPEC production is difficult to further increase. The UK's plan to delay the start-up of the rema oil field in the Gulf region of the United States forced the market to increase demand for OPEC crude oil while increasing demand

although OPEC chairman dokla said in Algiers on Thursday that OPEC would not change its production policy when oil prices fell for days. However, analysts believe that OPEC has a 50% probability of reducing production in December. Even if they do not cut production quotas, they will take necessary measures to support falling oil prices. Morgan Stanley believes that from now to the end of 2006, the third choice of crude oil demand is resolution and dynamic performance (bandwidth), and the average daily growth may be about 2million barrels. The situation of seasonal demand decline may be reversed, and OPEC may come out to support prices. There is some evidence that OPEC has reduced production in the Middle East to support high oil prices. According to the report of petroleum distribution, an oil tanker tracking organization, on Friday, the average daily supply of OPEC crude oil in September was 30.2 million barrels, a decrease of 400000 barrels from August, of which Saudi Arabia's daily supply of crude oil was 9.05 million barrels, a decrease of 220000 barrels from the lower end of the clamped sample in August; Iran, the second largest oil producer of OPEC, supplied 3.9 million barrels of crude oil per day in September, down 100000 barrels from August

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