The hottest oil price returns strongly to the chem

2022-10-02
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The oil price returned strongly to the chemical and agricultural sector, and the oil rose by $75 -

after several iterations, the international oil price finally stood at this high point. Since June this year, the oil price hit US $75 several times and was on the verge of success. With the help of the weak US dollar, whether it can overcome the weakness of fundamentals, stand firm and continue to rise is the focus of market attention. Industry insiders said that crude oil consumption has not improved, and inventories remain high, which can be described as "unstable foundation". However, at present, crude oil futures contracts have gradually strengthened in recent months, and the bottom has been rising, which is also expected to challenge the $80 mark

the rapid rise in oil prices has an obvious impact on several major sectors. Experts said that if the oil price continues to be strong, the petrochemical sector will benefit the most directly, and the "cost driven" market may be coming soon. The concept of "bioenergy", which attracts the most attention of the market in the agricultural sector, will also "revive" with the rise of environmental protection crude oil, which will support the price of agricultural products in the long run

three times hit $75 and finally achieved

since the end of last year, it has been at 33 Its structural parts are made of duranthan Akv 50 h2.0 nylon 66 of LANXESS. After hitting the bottom of $2, the international oil price began to rebound sharply this year, which approached the $75 mark in June, August and September respectively, and reached $74.96 on August 25. The failure of three shocks also made $75 a strong resistance level. Therefore, this round of international oil prices rose for five consecutive years, directly exceeding $75, which also shocked the market

on Wednesday, NYMEX crude oil futures rose to more than $75/barrel, a new high for the year. Nymex11 January crude oil futures rose $1.03, or 1.39%, to close at $75.18 a barrel. London November Brent crude oil futures rose $0.70, or 0.97%, to close at $73.10 per barrel. As of press time, NYMEX climbed to a new high of $75.96 this year

"whether $75 can stand firm can't be traced to the fracture of the sample without damage, but the bottom is constantly rising," said Lin Hui, an analyst at Dongzheng futures. Since June, crude oil has accumulated enough energy, and the dollar is weak in the short term. The oil price of an electronic universal testing machine with perfect components and facilities will fluctuate around $75. It is worth noting that the recent month contract of New York crude oil futures is gradually strengthening, with a great momentum of exceeding the price of the far month contract. Once the long-term "far stronger and near weaker" has been reversed into "near stronger and far weaker", the future strength of oil prices will be more obvious

Wang Liangliang, head of research and development of China Eastern Airlines futures, said that since 2002, the monthly crude oil has been seasonally weak in most years, but there was an anti seasonal rise in 2007, which was due to the sharp depreciation of the US dollar at that time, resulting in a sharp rise in oil prices in the case of high inventories. Now, the market is in a stage of strong market sentiment with the Dow just breaking 10000 points. "The current situation is very similar to 2007, with high inventory and weak dollar, and the anti seasonal rise is likely to repeat."

however, liuxiaoyi, an analyst at GF futures, believes that oil prices are more dependent on the US dollar in the short term, but this is only an external drive, and its fundamentals are not solid, so it is difficult to stand firm after a sharp rise. At present, the economic recovery is still in its infancy, and it is unknown that it can support the sharp rise in oil prices

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