Oil prices had fallen by 10 U.S. dollars within three weeks
□ Internship newspaper reporter Wang Yingchun
a result of market growth prospects in Europe and America worried about increase inventories high, high international oil prices are staged dive market. Since August 5 the top of the counting, at 24, New York Mercantile Exchange (NYMEX) crude oil contract dropped as much as 12.97 percent, oil prices in just three weeks had slid more than 10 U.S. dollars. Aug. 25 e-intraday prices continue to run below 72 dollars, 70 dollars a time integer precarious juncture.
Zhuo record information that the current macro-economic level, there is greater pressure, continued weak U.S. economic data, added to investors on the future of the global economy, bearish sentiment. Meanwhile, the recent capital on the stock market, futures market enthusiasm for venture capital investment is still not high, it also makes oil and other commodity prices under pressure. However, the current drop in oil prices is only a temporary phenomenon that does not mean the bear market. From a technical point of view, 70 U.S. dollars a support with a strong, even a short fall will be quickly pulled back.
First of all, the long term, since the U.S. took to recover from financial crisis since the future of the U.S. economy will improve step by step, although the pace of recovery slow, but highly unlikely the second bottom, investors do not too worried, as crude oil prices will rebound in the improving economic situation.
Second, the speculative sector can not deliberately go short crude oil prices. Since the debt crisis in Europe and the U.S. economic recovery has slowed down, speculation agency is not likely to do more than crude oil, from the current financial situation, speculative funds to focus more on the money, the gold market, hurt the euro, boosting the dollar and gold, commodities market is not the focus of speculative funds.
Therefore, the current drop in crude prices is short-term phenomenon. In addition, the parties to see from the production and consumption, crude oil prices at between 70-90 dollars is reasonable, neither producers over reduced profits, it will not affect the world economic recovery. Once crude oil prices fell to 70 dollars less, it will be a better time to buy long.
