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Current location:HOME>> News>> Industry News>> Oil and gas prices plummeted in Mid-autumn Day
Oil and gas prices plummeted in Mid-autumn Day
AUTHOR:admin PUBLISHED:2016-09-19 CLICK:正在读取

Beijing time on Wednesday (September 14th) at 22:30, the US Energy Information Administration (EIA) announced by the end of September 9th when the weekly crude oil inventories recorded by 559 thousand barrels, is expected to increase by 3 million 800 thousand barrels, and the former value decreased by 14 million 513 thousand barrels. U.S. EIA crude oil inventories fell for the three consecutive week. After the data release, the linoleum oil was rising. The first oil is rapidly pulled back to $45 /bbl at the top, but then all the earlier gains, traded at $44.09 / bbl, down nearly 2%.

Specific data shows that as of September 9th week recorded gasoline inventories increased 567 thousand barrels, is expected to increase by 343 thousand barrels, and the former value decreased by 4 million 211 thousand barrels of refined oil; when the weekly inventory recorded an increase of 4 million 619 thousand barrels, is expected to increase by 1 million 543 thousand barrels, and the former value increased by 3 million 382 thousand barrels, distillate inventories for five consecutive weeks recorded an increase in growth a record of more than 8 months; in the week Oklahoma Cushing area recorded in crude oil inventories fell 1 million 245 thousand barrels, and the former value decreased by 434 thousand barrels of crude oil inventories, Cushing recorded three consecutive weeks decline, with a drop in the 12 week maximum.

However, why did crude oil prices plummet? NYMEX actively took in October WTI crude oil futures contract Beijing time September 14th 22:30 a minute trading in the disk instantly traded 18830 hands, worth more than $800 million to pay the contract caused by the United States oil short-term jump up and once topped $45 / bbl. But with the reversal of market preference, the emergence of intensive selling single oil prices went under pressure to $44 / bbl below again, and the U.S. crude oil in the EIA stock market ran after the release falling down of the roller coaster market.

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