International oil prices fall below $50, hit 2005 lows

Global Times reported on November 20
Afp news on November 20, New York light crude oil prices fell below $50 a barrel on ThursdayOn the same day, the price of oil in London also fell below $50, its lowest level in three-and-a-half yearsWeak energy demand has led to a drop in oil pricesBEIJING, Nov21 (Xinhua) --International oil prices hit a three-and-a-half-year low on Tuesday as the global economic slowdown led to a steady decline in energy demand, with the price of oil falling below $50 a barrel in New York, affected by soaring unemployment, a sharp drop in international oil prices and the uncertain future of the U.Sauto industry giant, the New York stock market suffered a second straight day of heavy losses on the 20th, the three major stock indexes fell more than 5%, the Standard and Poor's index hit an 11-year lowjoint statement from the Asia-Pacific Economic Cooperation (APEC) ministerial meeting, pledging to respond to the global financial crisis with a "rapid, coordinated and effective" responseFannie Mae and Freddie Mac, the two biggest U.Smortgage giants, announced in a statement that they would suspend foreclosure auctions from November 26 to January 9 next yearto avoid fund redemptions that fuelfinancial market turmoil, the US Treasury said it was ready to bail out a large mutual fund in distresstop Democrats in the U.SCongress have announced that Congress will vote on the auto rescue plan as early as early next month, provided that the "Big Three" have to come up with industry reform and development plansLabor Department reported that the number of new claims for unemployment benefits in the United States last week was a seasonally adjusted 5420,000, the highest level in 16 years The leading U.S economic index fell 0.5 percent in October, according to data released by the American Federation of Large Businesses 8%, a bigger decline than economists' expectations of 0 6%。 after all-night negotiations, EU agriculture ministers finally reached an agreement on reforming common agricultural policies such as EU agricultural subsidies the European Commission approved the Belgian government's financing guarantee for Fortis, which has been hit hard by the financial crisis, and a joint financing guarantee from Belgium, France and Luxembourg to Dexia French President Nicolas Sarkozy officially announced the creation of a French "strategic investment fund", which will actively intervene when strategic enterprises need funds to protect the security of France's strategic economic sectors the governments of Sweden, Norway, Finland and Denmark have decided to jointly provide $2.5 billion in aid loans to Iceland to complement the International Monetary Fund's assistance to Iceland the Latvian government decided to apply to the International Monetary Fund for financial assistance to stabilize the domestic macroeconomic situation, but the government did not disclose the amount of aid planned data: International oil prices rise and fall like a roller coaster
the oil price as the representative of the large fluctuations in energy prices will have a great impact on the economy, and the stability of energy prices is related to China's economic and social stability it took only 18 months for international oil prices to rise from $60 a barrel in January 2007 to a high of $147, while it took just four months to return from a peak to $50, and the pace and magnitude of the increase was unprecedented, describing oil prices as a "roller coaster" the reasons for the sharp rise in oil prices in the are complex, such as economic growth, excess liquidity, the depreciation of the dollar, geopolitics, OPEC production restrictions, international speculative speculation and so on The global financial crisis triggered by the financial tsunami on Wall Street in the United States led to a substantial adjustment in oil prices, which also had a significant impact on the global economy Global Times reported on November 20
Afp News Agency on November 20, New York light crude oil prices fell below $50 a barrel on Thursday On the same day, the price of oil in London also fell below $50, its lowest level in three-and-a-half years Weak energy demand has led to a drop in oil prices BEIJING, Nov 21 (Xinhua) -- International oil prices hit a three-and-a-half-year low on Tuesday as the global economic slowdown led to a steady decline in energy demand, with the price of oil falling below $50 a barrel in New York , affected by soaring unemployment, a sharp drop in international oil prices and the uncertain future of the U.S auto industry giant, the New York stock market suffered a second straight day of heavy losses on the 20th, the three major stock indexes fell more than 5%, the Standard and Poor's index hit an 11-year low joint statement from the Asia-Pacific Economic Cooperation (APEC) ministerial meeting, pledging to respond to the global financial crisis with a "rapid, coordinated and effective" response Fannie Mae and Freddie Mac, the two biggest U.S mortgage giants, announced in a statement that they would suspend foreclosure auctions from November 26 to January 9 next year to avoid fund redemptions that fuelfinancial market turmoil, the US Treasury said it was ready to bail out a large mutual fund in distress top Democrats in the U.S Congress have announced that Congress will vote on the auto rescue plan as early as early next month, provided that the "Big Three" have to come up with industry reform and development plans Labor Department reported that the number of new claims for unemployment benefits in the United States last week was a seasonally adjusted 54 20,000, the highest level in 16 years The leading U.S economic index fell 0.5 percent in October, according to data released by the American Federation of Large Businesses 8%, a bigger decline than economists' expectations of 0 6%。 after all-night negotiations, EU agriculture ministers finally reached an agreement on reforming common agricultural policies such as EU agricultural subsidies the European Commission approved the Belgian government's financing guarantee for Fortis, which has been hit hard by the financial crisis, and a joint financing guarantee from Belgium, France and Luxembourg to Dexia French President Nicolas Sarkozy officially announced the creation of a French "strategic investment fund", which will actively intervene when strategic enterprises need funds to protect the security of France's strategic economic sectors the governments of Sweden, Norway, Finland and Denmark have decided to jointly provide $2.5 billion in aid loans to Iceland to complement the International Monetary Fund's assistance to Iceland the Latvian government decided to apply to the International Monetary Fund for financial assistance to stabilize the domestic macroeconomic situation, but the government did not disclose the amount of aid planned data: International oil prices rise and fall like a roller coaster
the oil price as the representative of the large fluctuations in energy prices will have a great impact on the economy, and the stability of energy prices is related to China's economic and social stability it took only 18 months for international oil prices to rise from $60 a barrel in January 2007 to a high of $147, while it took just four months to return from a peak to $50, and the pace and magnitude of the increase was unprecedented, describing oil prices as a "roller coaster" the reasons for the sharp rise in oil prices in the are complex, such as economic growth, excess liquidity, the depreciation of the dollar, geopolitics, OPEC production restrictions, international speculative speculation and so on The global financial crisis triggered by the financial tsunami on Wall Street in the United States led to a substantial adjustment in oil prices, which also had a significant impact on the global economy (Shang Bin)