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Strong Chinese data eased demand, worried pressure, crude oil slightly closed up
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Financial sector US stocks news Beijing time on April 13 news, Libya internal riots exacerbated production concerns, but China's economic data has eased investor concerns about energy demand declines, while a large-scale M&A deal announced in the energy industry on Friday also Support for oil prices, crude oil closed higher.
West Texas Light Crude Oil (WTI) futures for May delivery on the New York Mercantile Exchange rose 31 cents to close at $63.89 a barrel, or 0.5%, after the contract closed sharply on Thursday. Fell by 1.6%. At the same time, the Brent crude oil futures price for delivery on the London ICE European Futures Exchange in May also rose 72 cents to close at 71.55 US dollars per barrel, an increase of 1.1%, reversing the trend of a 1.3% decline yesterday.
According to data provided by Dow Jones Market Data Group, in this week's overall transaction, WTI futures prices rose by 1.3%, and Brent oil prices also rose by 1.7%.
Chevron announced on Friday that it plans to acquire Anadarko Petroleum in a cash-and-equity swap with a value of approximately $33 billion. After the news came out, the price of crude oil rose. Industry experts said the acquisition will strengthen Chevron's position in the shale oil sector because Anadarko has a strong presence in this area.
“The news came to the surface at around 6 am (EST), and crude oil prices began to rise, rising by $0.70 by 6:00.” Robert Jolger, head of energy at Mizuho Securities USA Robert Yawger, wrote in a research report released on Friday.
At the same time, the risks facing Libyan crude oil production continue to support oil prices. In a interview with the Financial Times, the Libyan National Oil Company’s chairman, Mustafa Sanalla, said that after the latest fighting, the Libyan energy industry faced the worst since the civil war in 2011. Threat. “Unless the problem is resolved quickly, I am worried that this will affect our business and soon we will not be able to produce crude oil or natural gas,” he said in an interview.
Analysts at RBC Capital Markets said that the average price of Brent crude oil for the rest of the year is expected to reach $75/barrel, higher than the previous forecast of $69.50/barrel; An asymmetrical upward momentum.” The investment bank’s analyst wrote in a research report released on Thursday: “The rebound under the geopolitical situation may cause oil prices to come close and even this summer, even More than $80 per barrel."
At the same time, oilfield service provider Baker Hughes announced on Friday that the number of active crude drilling platforms in the United States increased by two this week, bringing the total number to 833 for the second consecutive week. increase. This data from Baker Hughes can provide clues to future US crude oil production, and an increase in the number of drilling platforms means that production may increase, which is often a negative factor for oil prices.
In other energy deals on the New York Mercantile Exchange, RBOB gasoline futures for May delivery rose 0.3% to close at $2.037 a gallon, up 3.5% this week; heating oil futures for May delivery rose 0.2 %, closed at $2.071 per gallon, up 1.4% this week; natural gas futures for May delivery fell 0.2% to close at $2.66 per million British thermal units, and this week also fell 0.2% .
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- ExxonMobil says the US government sells crude oil contaminated
- Economic slowdown or hurt market demand
- Weighing inventory data and OPEC production cuts, crude oil closed up to a new five-month high
- OPEC crude oil production fell to a four-year low
- Russia hinted at increasing production pressure and crude oil fell slightly
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