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Asian styrene market closing price jumps on May 18th

05-18-2018 17:55:22

Crude closing price plunged amid profit taking triggered by interwined directions

According to OPEC, non-OPEC technical committee, July saw the implementation rate of crude output cut as high as 94% in July, published on August 21st.This was much higher than the OPEC-estimated 86% and the IEA-estimated 75% for July.

08-22-2017 14:40:40

Oil closing price rose due to recovering and USD depreciation, but dived after API release

On June 27th (Tuesday), the oil closing price rose due to the recovering operations of investors and USD depreciation.

06-28-2017 14:48:35

Restarting of two oil fields in Libya resulting in oil closing price declining

On April 27th (Thursday), news from Libyan NOC showed that the two key oil fields in Libya had restarted, where the crude output are mostly for export. The oil oversupply situation would be more severe, which pressured the oil price.

04-28-2017 16:03:43

Active wells doubled and production cut seemed uncertain; oil closing price slumped

On April 21st (Friday), as the number of U.S. active drilling wells has increased to more than double of that of the same period last year, the U.S. crude oil output continued to show signs of further growth, offsetting the production for the rebalance of supply and demand.

04-25-2017 08:44:19

Gasoline inventory rise resulted in worries on demand weakening; oil closing price slumped

On April 19th (Wednesday), as confirmed by EIA statistics, the U.S. gasoline inventory recorded an increase but not decline, which resulted in worries on fuel oil demand weakening.

04-20-2017 13:54:14

API crude inventory declined less than expected; the oil closing price dropped

On April 18th (Tuesday), API data showed that the U.S. crude oil inventory dropped less than expected last week and gasoline inventory hiked unexpectedly.

04-19-2017 11:47:58

The U.S. output may see a rise and Cushing inventory up; the oil closing price declined

On April 17th (Monday), EIA data showed that Cushing crude oil inventory hit a new record, and the U.S. crude oil output and active drilling wells of crude oil all maintained growth, triggering market concerns about the risk of inventory blocking.

04-18-2017 14:37:15

U.S. wells increased and oil closing price rose slightly

On April 13th (Thursday), IEA report showed that the global crude oil inventory declined in March, which marked the oversupply relieving. However, as U.S. crude oil active wells continued to increase, the output may be high still.

04-14-2017 15:06:24

EIA inventory slumped while U.S. output surged; the oil closing price saw decrease

On April 12th (Wednesday), although EIA latest inventory report said that U.S. crude oil inventory dropped substantially last week, U.S. fuel oil demand maintained at a strong status, as well as USD depreciated, all of which provided support for oil price, which turned out to going down.

04-14-2017 10:08:56

API inventory declined and the oil closing price kept rising

On April 11th (Tuesday), as U.S. crude oil inventory declined accidentally last week (according to the latest API inventory statistics), Saudi Arabia suggested extending the production cut agreement for six months to the officials of OPEC member countries, which injected power for oil price rising.

04-13-2017 16:47:30

Libya supply suspended again and oil closing price rose

On April 10th (Monday), as Sharara, the largest oil field in Libya, was forced to shut down again on Sunday after a transient restart. The crude oil supply showed an incline trend, and political turmoil in Libya raised concerns about the geopolitical uncertainty in the Middle East.

04-12-2017 11:41:02

EIA crude oil inventory increased; oil closing price rose slightly

On April 5th (Wednesday), despite the short-term interrupt of crude oil production in North Sea Oil Field and the optimistic expectation of prolonging output reduction agreement, the EIA crude oil inventory turned out to be increased, which disappointed crude oil holders.

04-11-2017 13:57:20

Oil closing price declined amid the concerns on the increasing output

On Monday (March 20th), the news that OPEC might prolong the production cut plan imposed limited influence on rallying the oil price; while the new high of US active crude oil drillings and Iraq’s remarks

03-21-2017 13:36:42

Oil closing price kept declining with US active drillings increasing

On March 10th, although the declined USD supported the oil price, the increasing active drillings in US weakened the bullish influence brought by OPEC’s production reduction.

03-13-2017 14:17:17

Oil closing price increased amid the optimistic production reduction

On February 21st, the oil closing price raised underpinned by the optimistic market sentiment toward oil producing countries’ production reduction, although the rebounded USD suppressed the oil price growth.

02-22-2017 10:06:49

Oil closing prices rise amid market optimistic mood growth

Oil closing prices hiked as the optimistic mood about non-OPEC oil producers may agree to cut output after OPEC reaching the production reduction deal heated up on December 8th (Thursday).

12-12-2016 18:04:50

Oil closing prices rise on OPEC's final efforts to save the deal

Oil closing prices rose underpinned by OPEC members’ final efforts though OPEC’s experts did not reach an agreement about the details of production-cutting deal on November 28th (Monday).

11-29-2016 18:09:56

International market MTBE closing price on 10th June

MTBE closing price in international market on 10th June: $640/mt in Asia, up by $16/mt; $629.75/mt in Europe, up by $4.75/mt; $665.27/mt in US, up by $11.932/mt.

06-13-2016 17:46:29

Mounting international crude oil output suppressed its closing prices

On Monday 25th April, amid signs of increased international crude oil production and the concerns about oversupply of refined oil, clothing prices of international crude oil fell however narrowed by a weak US dollar.

04-27-2016 15:36:51

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