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    Home > Chemicals Industry > Rubber Plastic News > Oil prices plummeted!

    Oil prices plummeted!

    • Last Update: 2022-10-21
    • Source: Internet
    • Author: User
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    In recent days, the international crude oil wind that has continued to rise has changed abruptly
    .
    On the 17th, the settlement price of international crude oil futures fell sharply.
    WTI July crude oil futures closed down $8.
    02, or 6.
    82%, at $109.
    56 per barrel

    .
    Brent crude oil futures for August ended down $6.
    69, or 5.
    58%, at $113.
    12 a barrel

    .

    Affected by the interest rate hikes by many central banks around the world, international oil prices ended a seven-week winning streak last week, with U.
    S.
    oil futures down 9.
    2% and Brent oil futures down 7.
    3%, both hitting the biggest weekly declines since April 1

    .
    Oil prices hit hard! Commodity futures are "green", and the prices of dozens of chemicals have fallen!
    The current drop in oil prices is mainly due to the resonance effect of the general decline in the stock market and commodities
    .
    Under the pressure of high global inflation, the market's worries about economic recession intensified.
    The Fed's June interest rate meeting finally raised interest rates by 75 basis points.
    The US dollar rose again, and risk assets were sold off.
    Global stock markets and commodities all ushered in higher levels.
    callback market

    .
    Under the influence of this wave, crude oil bears the brunt, which is already at a relatively high level in history.
    When the tight supply situation has not changed, panic has given oil prices a heavy blow

    .
    Crude oil, the king of bulk commodities, has bad expectations, and chemicals in the oil industry chain also follow, and immediately show a downward trend
    .
    On the 20th, most of the domestic commodity futures opened lower, with coal, oil and gas mining, precious metals, phosphorus chemical and other sectors leading the decline

    .
    Iron ore fell by more than 8%, SC crude oil, thermal coal, and coke fell by more than 4%, coking coal fell by more than 3%, and hot coil, Shanghai tin, rebar, and palm fell by nearly 3%

    .

    Affected by the interest rate hikes by many central banks around the world, international oil prices ended a seven-week winning streak last week, with U.
    S.
    oil futures down 9.
    2% and Brent oil futures down 7.
    3%, both hitting the biggest weekly declines since April 1

    .
    Oil prices hit hard! Commodity futures are "green", and the prices of dozens of chemicals have fallen!
    The current drop in oil prices is mainly due to the resonance effect of the general decline in the stock market and commodities
    .
    Under the pressure of high global inflation, the market's worries about economic recession intensified.
    The Fed's June interest rate meeting finally raised interest rates by 75 basis points.
    The US dollar rose again, and risk assets were sold off.
    Global stock markets and commodities all ushered in higher levels.
    callback market

    .
    Under the influence of this wave, crude oil bears the brunt, which is already at a relatively high level in history.
    When the tight supply situation has not changed, panic has given oil prices a heavy blow

    .
    Crude oil, the king of bulk commodities, has bad expectations, and chemicals in the oil industry chain also follow, and immediately show a downward trend
    .
    On the 20th, most of the domestic commodity futures opened lower, with coal, oil and gas mining, precious metals, phosphorus chemical and other sectors leading the decline

    .
    Iron ore fell by more than 8%, SC crude oil, thermal coal, and coke fell by more than 4%, coking coal fell by more than 3%, and hot coil, Shanghai tin, rebar, and palm fell by nearly 3%

    .
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