Express News | Shell Shutting in Oil Production at Perdido Offshore Platform in U.S. Gulf of Mexico, Citing Downstream Impacts Due to Storm Francine
Did oil prices plunge due to oversupply? Senior commodity analyst: The market is "scared".
①Currie said at the annual Asia-Pacific Petroleum Conference in Singapore that the market's concerns about oversupply were "completely exaggerated," and "in terms of oil, this year's production in the USA remained stable"; ②"The key issue is that the market has seriously overestimated the extent of oil supply glut, and the record short positions reflect this... I have never seen this situation before."
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The demand for natural gas in the USA has plummeted due to the impact of tropical storm Francine, causing a sharp decline in prices.
Henry Hub natural gas futures fell sharply on Monday in the United States. The reason is that the tropical storm 'Franklin' in the Gulf of Mexico is expected to make landfall on the shores of Texas and Louisiana on Wednesday, which is likely to result in power outages and shutdowns of liquefied natural gas export plants, thereby affecting demand and causing a decrease in natural gas prices.
Top global crude oil traders: As volatility decreases, the prosperous era of the market will come to an end.
As the impact of major market events in the past few years gradually fades, top global csi commodity equity index traders are striving to cope with a more challenging crude oil trade environment.
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