Financial News
Author: Ran Ran
2020-04-20 09:00
Last update date: 2020-04-20 09:02Reuters quotes show that WTI crude oil futures fell after opening lower to more than 5%, and US crude oil futures hit a low of more than 18 years.
WTI crude oil futures opened on April 20 and fell more than 3%, and the decline once expanded to more than 5%, now reported at 17.34 US dollars / barrel. Then it fell to its lowest level since November 2001. Spot silver fell $ 0.14 per ounce in the short-term, and is now reported at $ 15.12 per ounce.
Some analysts said that the oil market has been under pressure, and recently, as a large number of reports on weak fuel consumption have been published, many institutions have made pessimistic forecasts of crude oil demand, including OPEC, which will reduce production in May.
It is worth noting that after the opening of the riot, US crude oil futures hit a low of more than 18 years, widening the price difference with the global benchmark Brent crude oil.
Some analysts pointed out that part of the reason is that the current May contract is about to expire, and some analysts said that the decline in U.S. crude oil has clearly been more severe than that of cloth oil recently. This is mainly because shale oil companies are more difficult to survive this low oil price Confidence in shale oil has fallen.
On April 18, the data released by the famous oil service Baker Hughes showed that the total number of oil drilling in the United States shrank to 438 in the week of April 17, which was the sixth consecutive week that the total number of drilling had declined.
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