Indices Rock, Oil Down, Dollar Weaker
Oil Prices Slip After Volatile Week; Losses Limited by Geopolitical Risk -- Market Talk
Crude oil analysis at noon: International crude oil fell slightly, with the average price of crude oil paid for the SPR supplement plan by the US Department of Energy decreasing to...us energy.
As of 12:00 Beijing time, the price of Brent crude oil futures for October contracts was $80.81 per barrel, down 23 cents from the settlement price on August 15th, while the closing price for the contract on that day was up $1.28 from the previous trading day.
The Middle East situation remains tense, and international oil prices have rebounded from a bottom.
Crude oil product showed a trend of rising and falling overall. The average price of WTI was $77.68/barrel this week, an increase of $3.44/barrel or 4.64% from the previous week. The main factors supporting the bullish trend during the week were investors' concerns over the geopolitical situation in the Middle East and the reduction in crude oil supply from Russia and Libya. The main factors causing pressure on oil prices were the IEA and OPEC's downward revision of oil demand growth expectations and an increase in US crude oil inventories.
Crude Oil Futures Recover Some Ground -- Market Talk
US Crude Oil Inventories Push Prices Down – ANZ