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The relaxation of restrictions on the new crown pneumonia epidemic in the United States and Europe boosted energy demand expectations.
Crude oil futures prices closed up on Tuesday, setting a new high in more than two months
.
The price of West Texas Light Crude Oil (WTI) for June delivery on the New York Mercantile Exchange rose $1.
20 to close at $65.
69 per barrel, an increase of 1.
9%
.
At the same time, the price of North Sea Brent crude oil futures for July delivery on London's ICE European Futures Exchange also rose by $1.
32 to close at $68.
88 per barrel, an increase of 2%
.
According to data provided by Dow Jones Market Data Group, WTI futures and Brent crude oil futures prices both set their highest closing prices since March
.
Phil Flynn, a senior market analyst at the Price Futures Group, said that the demand for crude oil in the United States is soaring.
Together with the United Kingdom’s plan to ease air travel restrictions, these developments “offset people.
Concerns about the destruction of demand in India and concerns about the restoration of supplies from Iran"
.
At the same time, Indian Prime Minister Narendra Modi (Narendra Modi) has vowed not to shut down the Indian economy despite great external pressure,” Flynn wrote in a report released on Tuesday
.
Oanda market analyst Sophie Griffiths said in a report: "Investors this week are still focusing on optimism related to the economic restart, hoping that the relaxation of blockade restrictions in the United States and Europe will lead to an increase in fuel demand.
.
"The
European Commission proposed on Monday to welcome travelers who have been fully vaccinated against the new crown pneumonia and tourists from countries with “good epidemics”
.
Affected by this news, European airlines’ stock prices have risen sharply
.
In the United States, several states have begun to cancel or announce.
Plan to cancel or relax lockdown restrictions
.
Since October last year, the average daily number of new infections in the United States has fallen below 50,000 for the first time
.
According to data from the Transportation Security Administration, nearly 1.
67 million people were screened at US airport checkpoints last Sunday, the highest number since mid-March last year
.
"Europe's plan to ease travel restrictions is a boon to the crude oil bulls.
Coupled with Fed Chairman Powell's remarks that the US economic recovery is making substantial progress, this has played a supporting role in rising oil prices
.
" Griffith wrote in the report.
Tao
.
The epidemic situation in the United States and Europe is improving.
This is in sharp contrast with India, the world's third-largest oil importer, where hospitals are still overcrowded and lack the supply of various medical supplies, including oxygen
.
Griffith said: "At present, the market has looked beyond India, focusing on the reopening of the United States and Europe
.
However, we know that the outlook for the epidemic is unstable and may limit the increase in oil prices
.
"
At the same time.
, Investors are still waiting for US crude oil inventory data
.
The American Petroleum Institute (API) will release last week's crude oil inventory report later on Tuesday, while the Energy Information Administration (EIA) under the US Department of Energy will release its inventory report on Wednesday
.
According to a survey by Standard & Poor's Global Platts (S&P Global Platts), analysts on average expected a reduction of 3.
9 million barrels in US crude oil inventories in the week ending April 30, after crude oil inventories had risen for two consecutive weeks
.
In addition, analysts also expect on average that gasoline inventories will decrease by 500,000 barrels this week, and distillate (including diesel and heating oil) inventories will decrease by 1.
6 million barrels
.
In other energy transactions on the New York Mercantile Exchange, the price of RBOB gasoline futures for June delivery rose 2.
4% to close at $2.
15 per gallon; the price of heating oil futures for June delivery rose 2.
4% to close at $2.
15 per gallon.
US$2; natural gas futures for delivery in June rose 0.
03% to close at US$2.
97 per million British thermal units
.
Crude oil futures prices closed up on Tuesday, setting a new high in more than two months
.
The price of West Texas Light Crude Oil (WTI) for June delivery on the New York Mercantile Exchange rose $1.
20 to close at $65.
69 per barrel, an increase of 1.
9%
.
At the same time, the price of North Sea Brent crude oil futures for July delivery on London's ICE European Futures Exchange also rose by $1.
32 to close at $68.
88 per barrel, an increase of 2%
.
According to data provided by Dow Jones Market Data Group, WTI futures and Brent crude oil futures prices both set their highest closing prices since March
.
Phil Flynn, a senior market analyst at the Price Futures Group, said that the demand for crude oil in the United States is soaring.
Together with the United Kingdom’s plan to ease air travel restrictions, these developments “offset people.
Concerns about the destruction of demand in India and concerns about the restoration of supplies from Iran"
.
At the same time, Indian Prime Minister Narendra Modi (Narendra Modi) has vowed not to shut down the Indian economy despite great external pressure,” Flynn wrote in a report released on Tuesday
.
Oanda market analyst Sophie Griffiths said in a report: "Investors this week are still focusing on optimism related to the economic restart, hoping that the relaxation of blockade restrictions in the United States and Europe will lead to an increase in fuel demand.
.
"The
European Commission proposed on Monday to welcome travelers who have been fully vaccinated against the new crown pneumonia and tourists from countries with “good epidemics”
.
Affected by this news, European airlines’ stock prices have risen sharply
.
In the United States, several states have begun to cancel or announce.
Plan to cancel or relax lockdown restrictions
.
Since October last year, the average daily number of new infections in the United States has fallen below 50,000 for the first time
.
According to data from the Transportation Security Administration, nearly 1.
67 million people were screened at US airport checkpoints last Sunday, the highest number since mid-March last year
.
"Europe's plan to ease travel restrictions is a boon to the crude oil bulls.
Coupled with Fed Chairman Powell's remarks that the US economic recovery is making substantial progress, this has played a supporting role in rising oil prices
.
" Griffith wrote in the report.
Tao
.
The epidemic situation in the United States and Europe is improving.
This is in sharp contrast with India, the world's third-largest oil importer, where hospitals are still overcrowded and lack the supply of various medical supplies, including oxygen
.
Griffith said: "At present, the market has looked beyond India, focusing on the reopening of the United States and Europe
.
However, we know that the outlook for the epidemic is unstable and may limit the increase in oil prices
.
"
At the same time.
, Investors are still waiting for US crude oil inventory data
.
The American Petroleum Institute (API) will release last week's crude oil inventory report later on Tuesday, while the Energy Information Administration (EIA) under the US Department of Energy will release its inventory report on Wednesday
.
According to a survey by Standard & Poor's Global Platts (S&P Global Platts), analysts on average expected a reduction of 3.
9 million barrels in US crude oil inventories in the week ending April 30, after crude oil inventories had risen for two consecutive weeks
.
In addition, analysts also expect on average that gasoline inventories will decrease by 500,000 barrels this week, and distillate (including diesel and heating oil) inventories will decrease by 1.
6 million barrels
.
In other energy transactions on the New York Mercantile Exchange, the price of RBOB gasoline futures for June delivery rose 2.
4% to close at $2.
15 per gallon; the price of heating oil futures for June delivery rose 2.
4% to close at $2.
15 per gallon.
US$2; natural gas futures for delivery in June rose 0.
03% to close at US$2.
97 per million British thermal units
.
