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国际油价连续上涨6周!发生了啥?

International oil prices have risen for six weeks in a row! What happened?

央視網 ·  Oct 16, 2021 16:24

Original title: international oil prices have risen for 6 consecutive weeks! What happened? Source: CCTV Finance and Economics

On Friday, US time, the latest US retail sales figures for September unexpectedly climbed, and the results of companies such as Goldman Sachs Group also exceeded market expectations, boosting the three major US stock indexes, with the Dow up more than 1 per cent. On the same day, large technology stocks and bank stocks generally rose, Amazon.Com Inc rose more than 3%, Wells Fargo & Co rose more than 6%, Goldman Sachs Group rose more than 3%, the company's third-quarter net income of 13.61 billion US dollars, exceeding market expectations. In addition, Virgin Galactic fell nearly 17% after the company announced that it would postpone its commercial space travel service until the fourth quarter of next year, while no planned test flights would be carried out this year.

Unexpected month-on-month growth in US retail sales in September analysts: consumers' willingness to pay for high prices is not sustainable

On the data side, the U.S. Department of Labor reported on Friday that U.S. retail sales rose 0.7% month-on-month in September, compared with a previous forecast of a 0.2% decline. Analysts at Bank of Montreal Wealth Management say the unexpected increase in retail data means consumers are adapting to high price levels. So far, concerns about inflation and the supply chain have not led to a significant decline in consumer demand, but people's willingness to pay for higher prices is unlikely to be sustainable.

Supported by the expected shortage of crude oil, international oil prices rose by more than 1% on the 15th.

International oil prices rose on Friday, with the International Energy Agency saying that demand for crude oil will increase by 500000 barrels a day in the coming months, which will lead to a daily shortfall of about 700000 barrels a day by the end of the year. The reason is that travel restrictions related to the epidemic are gradually relaxed and energy demand is increasing. Expectations of a crude oil shortage boosted oil prices. By the close, the price of light crude for November delivery on the New York Mercantile Exchange was up 1.19%, up 3.5% this week, and London Brent crude for December delivery was up 1.02%. It rose 3% this week, the sixth consecutive week of gains.

The yield on US Treasuries rose for 15 days, and the international gold price fell by more than 1.6%.

In terms of gold prices, on Friday, December gold futures, the most actively traded on the New York Mercantile Exchange, fell 1.65% from the previous day to close at $1768.3 an ounce. Market analysts believe that the rise in Treasury yields is the main reason for the decline in gold prices on the day.

(editor Zhai Zihao)

Disclaimer: This content is for informational and educational purposes only and does not constitute a recommendation or endorsement of any specific investment or investment strategy. Read more
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