The hottest worry is the Atlantic storm. On August

2022-08-18
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Worried about the Atlantic storm, the international oil price fluctuated significantly on August 25

worried about the low pressure in the Caribbean developing into a tropical storm, European and American crude oil futures rose by more than $1 in early trading on Friday. However, as the tropical depression failed to strengthen as predicted, the international oil market was relieved in the afternoon and closed almost flat with the previous trading day. At the close of trading on Friday, October light crude oil futures on the New York Mercantile Exchange were $72.51 a barrel, up $0.15 from the previous trading day; October Brent crude oil futures on the London Intercontinental Exchange were $72.70, up $0.02; Heating oil futures in September in New York rose 0.04 cents to 202.98 cents per gallon; Gasoline futures in September closed at 189.51 cents per gallon, up 3.36 cents; In September, rbob gasoline futures closed at 190.58 cents per gallon, up 4.50 cents from the previous trading day; London Intercontinental Exchange September diesel futures closed at $658.25 per ton, up $9.50 from the previous trading day

the tropical storm Debbie in the East Atlantic has weakened. As of 5 p.m. EST on Friday (5 a.m. Beijing time on Saturday), Debbie is located 1470 miles west northwest of Cape Verde Islands. The maximum sustained wind force in the storm center has weakened to 40 miles per hour, accompanied by strong winds, moving northwest at the speed of 17 miles per hour. The storm is not expected to reach North America

at 10:00 local time on Friday, the federal Hurricane Center in Miami predicted that the tropical depression in the Caribbean is located 340 miles (545 kilometers) south of San Juan, Puerto Rico. the maximum sustained wind force of the system is 35 miles per hour, which is only 4 miles lower than the definition of tropical storm. When the wind force increases to more than 74 miles per hour, it can be called a hurricane. But the meteorological agency said that tropical storm No. 5 could turn into a hurricane and hit the Gulf of Mexico next week. Reaching the international advanced level, Benz, the broker of BNP Paribas commodity futures in New York, said, "since the hurricane season last year, people are very sensitive to any threat to the U.S. Gulf region. The market is worried that the storm has not yet formed, and it is predicted that this low pressure may form a storm, and a hurricane may form next week."

in the same period last year, 11 named storms occurred in the Atlantic Ocean, of which 4 turned into hurricanes

from the function review in the test process of Iran and the evaluation and review of the final test pieces, and advocate that the tension between Lang and Nigeria still supports the market. The UN Security Council requires Iran to stop uranium enrichment before August 31, otherwise it may be subject to economic and diplomatic sanctions. The market is worried that Iran will not implement the UN resolution as scheduled, which will affect its crude oil exports. Iran exports about 2.5 million barrels of crude oil every day, and it can also threaten the Hormuz Strait, an important oil export channel. Dariusz Kowalczyk, chief investment strategist of CFC Seymour Ltd in Hong Kong, predicts that Iran has rejected the UN's request to stop uranium enrichment mainly in the direction of industrial chain extension, and oil prices may rise next week. "We expect that the tough attitude of the United States towards Iran may aggravate geopolitical risks and relatively threaten the stability of crude oil supply," he said

On Friday, ansa, an Italian agency, quoted the Italian Ministry of foreign affairs as saying that three more workers employed by Eni were kidnapped at the Italian port of Harcourt. On Thursday, six foreign oil workers kidnapped at the port of Harcourt in Nigeria on August 13 were released. Since this year, at least 45 oil workers have been kidnapped in Nigeria, and at least 17 were kidnapped in August alone. As security was threatened, oil facilities were destroyed, and Nigeria lost 1/4 of its crude oil production. According to a Bloomberg statistic, Nigeria's crude oil output averaged 2.2 million barrels per day in July. 10% of the crude oil imported by the United States comes from Nigeria, and the light and low sulfur crude oil exported by the country is the raw material for the production of high-quality and high-yield gasoline

as of August 25, the first month futures of light crude oil on the New York Mercantile Exchange averaged $74.086 a barrel, 32.9 cents lower than the average price of the previous month; The first month futures of North Sea Brent crude oil futures on the London Intercontinental Exchange averaged $73.701 a barrel, 91.6 cents higher than the average price of the previous month. Brent crude oil is higher than U.S. benchmark crude oil, reflecting the increase in U.S. crude oil inventories and the relative shortage in the European market. The aging of North Sea oil fields, the decline of production and the reduction of crude oil production caused by the riots in Nigeria also pushed up the price of Brent crude oil

the U.S. Department of energy reported that as of the 18th, the average daily crude oil production in the United States was 5.08 million barrels, a decrease of 1.4% over the previous week, reflecting the reduction of crude oil production on the northern slope of Alaska due to pipeline corrosion. Crude oil production was the lowest weekly average since May 1 and August 2015, which was 5.8% lower than the same period last year. At the end of July, due to pipeline corrosion, U.S. crude oil production fell to 4.94 million barrels per day, the lowest level since January 27

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