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    Home > Chemicals Industry > Petrochemical News > Multiple bearishness weighs on market sentiment International oil prices fell sharply on August 15

    Multiple bearishness weighs on market sentiment International oil prices fell sharply on August 15

    • Last Update: 2023-01-08
    • Source: Internet
    • Author: User
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    Multiple bearishness weighed on market sentiment, international crude oil futures prices fell sharply in the overnight market, and on August 15, intraday volatility rebounded, and international oil prices fell
    significantly at the close.

    Saudi Aramco CEO said Aug.
    14 that if needed, Saudi Aramco can produce oil at maximum capacity, and continued investment in the oil industry is necessary, and Aramco can increase production to 12 million b/d
    at any time requested by the Saudi government.

    Iranian Foreign Minister Abdollahian said on the 15th that Iran is currently negotiating with the United States on three specific issues in an indirect way, and the United States expressed "verbal flexibility"
    on two issues in the latest round of negotiations.
    He called on the United States to adopt a "realistic approach"
    on the third, assurance.
    If the U.
    "shows flexibility," it can reach consensus
    on the issue in the coming days.

    In addition, on the evening of August 15, data released by the New York Fed showed that the US New York Fed manufacturing index plunged to a record low of -31.
    3 in August, far lower than the expected 5, and a decrease of more than 42 points compared with the previous value, the second largest decline in the history of the index
    This means that manufacturing activity in New York State has weakened

    Light crude futures for September delivery fell $2.
    68, or 2.
    to settle at $89.
    41 a barrel on the New York Mercantile Exchange by the close of the day.
    London Brent crude futures for October delivery fell $3.
    05, or 3.
    11%, to settle at $95.
    10 a barrel

    Giovanni Staunovo, an oil analyst at UBS, said that open interest in crude oil futures is still declining, and the reluctance of some market participants to hold positions due to volatility is the reason
    for the decline in volume.

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