echemi logo
Product
  • Product
  • Supplier
  • Inquiry
    Home > Chemicals Industry > Petrochemical News > International crude oil continues to plunge to hit a new low this year: domestic oil prices are expected to continue to fall

    International crude oil continues to plunge to hit a new low this year: domestic oil prices are expected to continue to fall

    • Last Update: 2023-02-05
    • Source: Internet
    • Author: User
    Search more information of high quality chemicals, good prices and reliable suppliers, visit www.echemi.com

    Although there is a rebound in the middle of the international crude oil price, it has not changed the overall downward trend, so it is not surprising that it fell by 4%, and there is not much suspense that domestic oil prices will continue to adjust
    downward.

    In the early morning of the 4th Beijing time, the price of U.
    S.
    WTI crude oil futures closed sharply lower
    on Wednesday.
    U.
    S.
    government data showed an unexpected rise in U.
    S.
    crude and gasoline inventories, erasing gains gained after OPEC+ announced a modest increase in September production targets in the morning and turned further down
    .

    West Texas Intermediate (WTI) crude for September delivery fell $3.
    76, or 4 percent, to settle at $
    90.
    66 a barrel on the New York Mercantile Exchange.

    On February 23, the day before the outbreak of the Russian-Ukrainian conflict, the price of U.
    S.
    WTI crude oil futures closed at $92.
    10 per barrel, which means that the current WTI crude oil futures price is already below the pre-Russia-Ukraine conflict level
    .

    In March, WTI crude briefly topped $
    130 per barrel.

    Some analysts said that as international oil prices continue to fall, domestic oil prices still have room for further reduction, and the sustainability may be stronger, which is actually a good thing for users, what do you think?

    This article is an English version of an article which is originally in the Chinese language on echemi.com and is provided for information purposes only. This website makes no representation or warranty of any kind, either expressed or implied, as to the accuracy, completeness ownership or reliability of the article or any translations thereof. If you have any concerns or complaints relating to the article, please send an email, providing a detailed description of the concern or complaint, to service@echemi.com. A staff member will contact you within 5 working days. Once verified, infringing content will be removed immediately.

    Contact Us

    The source of this page with content of products and services is from Internet, which doesn't represent ECHEMI's opinion. If you have any queries, please write to service@echemi.com. It will be replied within 5 days.

    Moreover, if you find any instances of plagiarism from the page, please send email to service@echemi.com with relevant evidence.