Jiangnan
The increase of crude oil inventory data released by the Energy Information Association (EIA) last night led to the decline of crude oil futures prices in New York, delaying the impact of $110/barrel.
EIA announced last night that as of the week of March 7, the US crude oil inventory had increased by 6.2 million barrels to 311.6 million barrels; Gasoline inventory increased by 1.7 million barrels to 236 million barrels; Distillate oil inventory decreased by 1.2 million barrels to 116.4 million barrels.
As of press release (23:00 Beijing time), the April contract of crude oil futures on the New York Mercantile Exchange (NYMEX) was at the lowest of $107.09 per barrel, down $2.63 from the record high of $109.72 per barrel set on the previous trading day.
The decline of crude oil in New York has had a certain impact on the NYBOT market. cotton Futures contracts for May fell more than 3 cents at one time, with the lowest price of 77.28 cents.
However, after a brief rebound, the dollar index fell back to a record low, thus reducing the decline of crude oil futures prices. It also made crude oil fall soybean 、 Soybean oil , copper, aluminum and other bulk commodity markets have not had a significant impact.
As of press release, the dollar index closed at 72.67, with the lowest closing at 72.498, devouring all the gains of the previous trading day. Some traders said that the capital injection action of the Federal Reserve can only play a temporary role in supporting the dollar, while the rise of crude oil mainly comes from the tension between supply and demand.
Recently, the market also noticed that after the oil price broke 100%, gold The price is still lack of motivation before the 1000 dollar pass, and the recent increase of crude oil far exceeds that of gold.
Liu Yuelai, an analyst of Everbright Futures, believes that gold and crude oil are two different commodities after all, and the specific factors that affect the two are often different, such as supply and demand, scarcity, holding costs, etc., which leads to the difference in the rise and fall of the two.
Sina statement: The content of this article is purely the author's personal view, only for investors' reference, and does not constitute investment advice. Investors operate accordingly at their own risk.
