The international oil price is close to $120.

;.in the past week, plagued by supply worries, international oil prices have embarked on a surge in demand to match the sky test, breaking through $115 and pushing the $117 and $119 mark to $120. From Mexico's closure of crude oil export ports to the unexpected decline in U.S. crude oil inventories to the bombing of the Nigerian pipeline, the continuing warming of supply and demand has spurred oil prices to record six consecutive trading days, even less than the target. At present, the refinery destruction incident, the weak u.S. dollar situation is difficult to change all support the strong oil price. But high oil prices have added to the economic burden, with recent talk of high oil prices weighing on global growth, major consumer powers expressing concern about high oil prices, U.S. President George W. Bush saying he was concerned about record highs in crude oil and gasoline prices, and IMF First Deputy Director-General Lipsky saying record high oil prices are weighing on global growth. Although OPEC insists that soaring oil prices have nothing to do with supply fundamentals and still have no intention of increasing production, oil prices are at such a fast pace, such a high range, there must be a great risk, first futures analyst Li Guodong said, the recent rise in oil prices due to geo-events, but the short-term market focus is not supply and demand fundamentals and economic levels, when oil prices reach $120, profit will certainly be on the price of pressure, in addition, in conjunction with the End of April meeting after the Federal Reserve. In the medium to long term, however, oil prices continue to rise..the oil price rally is difficult to say the end of the high correction risk increases.International oil prices have hit a new record high since last week, as investors worried about supply over the bombing of Nigeria's pipeline and the possibility of a British strike. Meanwhile, expectations of a european Central Bank rate hike have stifled a rebound in the dollar, which has fallen again to encourage commodity buying, and analysts say the rally in oil prices looks set to continue for the long term..this week, armed destruction continued in Nigeria, with Royal Dutch Shell Oil saying two of its oil pipelines in Nigeria's Niger Delta were attacked on Monday, although Odein Ajumogobia, Nigeria's oil minister, said on Tuesday that the recent insurgency had not caused serious disruption to the country's oil production..in addition, the Ineos Grangemouth refinery in the UK is cutting production in preparation for a strike scheduled for Sunday. Meanwhile, the Japanese ship said an attack on one of its tankers in the Gulf of Aden threatened oil supplies..oil prices are also supported by a fall in the dollar, with European Central Bank (ECB) management committee member Noah said on Tuesday it would do all it could to bring inflation below target 2 per cent and said it would adjust interest rates if necessary. The euro broke through $1.60 against the dollar on Tuesday for the first time since the euro was launched in 1999 as markets increasingly anticipated that the European Central Bank's next move could be to raise interest rates..for now, analysts have issued comments that there is still room for international oil prices to rise. Lin Fan, an analyst at China Securities Futures, said that geo-issues were again hyped, and that international oil prices continued their upward trend, with a steady mid-frequency record high. At present, the market continues to rise is not a problem, even if the short-term correction will not change the trend, highs how high is not surprising, this week I believe that will be mainly rising..OPEC Secretary-General Haider al-Abadi said international oil prices are likely to continue to climb. If the upward momentum in oil prices is due to supply shortages, the group will consider increasing production. He noted that while a weak U.S. economy could lead to a decline in the country's demand for crude oil, continued strong demand in Asia and other developing countries would compensate for the weakening of U.S. demand for crude oil.. (NextPage).he believes that the current rise in oil prices is not due to supply and demand imbalances, but other factors, the most important of which is the dollar decline, geographical risk and speculation, and so on, and these factors will not stop the rise in oil prices..But with the high oil prices, the market began to worry about oil price correction, Lu securities futures analyst Yang Yang said, in the fundamentaland and technical aspects of the joint promotion of crude oil once again created a record high, but so fast, such a high range, there must be a great risk, the crude oil correction has been getting closer and closer..high oil prices increase the burden on the global economy OPEC still has no intention of increasing production.rising international oil prices not only affect the nerves of China's economy, but also become the focus of the world's attention. With high oil prices breaking through the $100 mark, the world economy will also follow up and down, into a period of oil price turmoil. Although economies have become more resilient to high oil prices, the impact on growth has also been much stronger as oil prices approach a high of $120..U.S. President George W. Bush said Tuesday that he is concerned about record high slower crude and gasoline prices, saying the U.S. economy is not in recession but is experiencing a slowdown..International Energy Forum said on the 21st, oil prices record high prices are threatening the prospects for global economic growth, and called on international institutions such as the International Monetary Fund to study how to mitigate the impact of oil prices, especially for developing countries.."The unusually high price of oil above $117 a barrel has put pressure on the world economy at risk of recession, and I have repeated my strong sense of crisis that if this situation continues, it will frustrate the global economy and we are at serious risk of a global recession today," said's Minister of Economy, Trade and Industry, Yoshihide Suga. Imf chief economist and first deputy director-general, Lipsky, warned that food and oil prices had reached high levels that could destabilise the global economy and that policymakers must quickly come up with plans to stimulate supply. He also said that on the fundamentals, oil prices may be high because the market supply may be tight. . IEA director-general, Tanaka Tanaka, said the current oil price stake was high and developing countries were most affected by it. "The current oil price is too high for everyone, especially for developing countries," he said. . In a closing statement at the International Energy Forum (IEF) in Rome , ministers expressed concern about high oil prices, saying they should be at acceptable levels, especially in poor countries where energy depends on imports. . (NextPage) . OPEC remains at a non-production level despite oil prices approaching a high of $120, and on Monday Iranian Oil Minister Nou zzari said the real price was not too high. Kuwait's acting oil minister, Mohammad al-Olaim, said Tuesday that the record high oil price was due to undercapacity at refineries, a weak dollar and geopolitical factors, rather than fundamentals. . Opec secretary-general, Said bader, said the group would not hold additional meetings before its regular september meeting and that there was no consensus on whether oil prices were too high or too low, and that the forum was not designed to discuss oil pricelevels. . fuel oil to supplement the increase after adjusting the trend of climbing high concerns . since international oil prices hit a high, domestic fuel oil has also climbed, breaking a record high last week. However, the higher the international oil price, the domestic fuel oil has deviated from its trend of sharp decline. At present, the fuel oil market lack of speculation theme, investor market participation is not strong, fuel price adjustment is inevitable. . just as the international crude oil is in full swing, domestic fuel oil has not been able to follow the footsteps of the outside market, on Tuesday, Shanghai fuel oil fell sharply after noon, the main 0807 contract broke down, the pattern of bad, closing down 100 yuan or more to 4380 yuan, the end hit a low of 4375 yuan. . fuel oil performance has been weaker than the external crude oil, analysts said this and fuel oil itself supply and demand fundamentals are inseparable, the domestic fuel oil spot market has been very light. In addition, the domestic market is concerned about the international oil price shock after the high risk of a correction, as well as the main contract transfer for a month, volume and position decline added fuel oil upward pressure. . However, there is no denying the lack of speculation in the domestic market similar to crude oil, fuel futures market has been lack of speculative capital to promote, which limits the market activity. . Shanghai mid-term analyst Song Cong said that the industry is generally not optimistic about the domestic fuel trend, market turnover and positions also remained low, and after fuel oil hit a new high of 4,519 yuan, the market also has doubts about its ability to maintain high levels, which will inevitably lead to a sharp adjustment. . In the past week, plagued by supply concerns, international oil prices have surged against the Sky Test, breaking through $115 and pushing them to $120 after breaking through $115. From Mexico's closure of crude oil export ports to the unexpected decline in U.S. crude oil inventories to the bombing of the Nigerian pipeline, the continuing warming of supply and demand has spurred oil prices to record six consecutive trading days, even less than the target. At present, the refinery destruction incident, the weak u.S. dollar situation is difficult to change all support the strong oil price. But high oil prices have added to the economic burden, with recent talk of high oil prices weighing on global growth, major consumer powers expressing concern about high oil prices, U.S. President George W. Bush saying he was concerned about record highs in crude oil and gasoline prices, and IMF First Deputy Director-General Lipsky saying record high oil prices are weighing on global growth. Although OPEC insists that soaring oil prices have nothing to do with supply fundamentals and still have no intention of increasing production, oil prices are at such a fast pace, such a high range, there must be a great risk, first futures analyst Li Guodong said, the recent rise in oil prices due to geo-events, but the short-term market focus is not supply and demand fundamentals and economic levels, when oil prices reach $120, profit will certainly be on the price of pressure, in addition, in conjunction with the End of April meeting after the Federal Reserve. In the medium to long term, however, oil prices continue to rise. . the oil price rally is difficult to say the end of the high correction risk increases . International oil prices have hit a new record high since last week, as investors worried about supply over the bombing of Nigeria's pipeline and the possibility of a British strike. Meanwhile, expectations of a european Central Bank rate hike have stifled a rebound in the dollar, which has fallen again to encourage commodity buying, and analysts say the rally in oil prices looks set to continue for the long term. . this week, armed destruction continued in Nigeria, with Royal Dutch Shell Oil saying two of its oil pipelines in Nigeria's Niger Delta were attacked on Monday, although Odein Ajumogobia, Nigeria's oil minister, said on Tuesday that the recent insurgency had not caused serious disruption to the country's oil production. . in addition, the Ineos Grangemouth refinery in the UK is cutting production in preparation for a strike scheduled for Sunday. Meanwhile, the Japanese ship said an attack on one of its tankers in the Gulf of Aden threatened oil supplies. . oil prices are also supported by a fall in the dollar, with European Central Bank (ECB) management committee member Noah said on Tuesday it would do all it could to bring inflation below target 2 per cent and said it would adjust interest rates if necessary. The euro broke through $1.60 against the dollar on Tuesday for the first time since the euro was launched in 1999 as markets increasingly anticipated that the European Central Bank's next move could be to raise interest rates. . for now, analysts have issued comments that there is still room for international oil prices to rise. Lin Fan, an analyst at China Securities Futures, said that geo-issues were again hyped, and that international oil prices continued their upward trend, with a steady mid-frequency record high. At present, the market continues to rise is not a problem, even if the short-term correction will not change the trend, highs how high is not surprising, this week I believe that will be mainly rising. . OPEC Secretary-General Haider al-Abadi said international oil prices are likely to continue to climb. If the upward momentum in oil prices is due to supply shortages, the group will consider increasing production. He noted that while a weak U.S. economy could lead to a decline in the country's demand for crude oil, continued strong demand in Asia and other developing countries would compensate for the weakening of U.S. demand for crude oil. . (NextPage) . he believes that the current rise in oil prices is not due to supply and demand imbalances, but other factors, the most important of which is the dollar decline, geographical risk and speculation, and so on, and these factors will not stop the rise in oil prices. .