Tuesdays (27), the decline in energy demand and the fear of the US dollar, trade fluctuated hours, expectations of the next major oil producers, cut production next week and, finally, lower oil prices sharply.
WTI's crude oil futures were distributed according to January, 7 cents, or 0.1%, $ 51.56, $ 52.38 a day, and $ 50.30.
Brent's crude oil futures were down 27 cents, or almost 0.5%, with $ 60.21 in cash.
Phil Flynn, a senior marketing analyst at Price Futures Group, says the United States and China trade disputes continue to mitigate global economic growth, lower demand for energy demand market, and dollar power also prescribes dollar sales, such as oil.
The United States Ambassador, Cui Tiankai, admitted the exclusive Wall Street Journal interview. If this situation persists, the global market for decades will be distributed. Flynn believes that this mention has caused market concerns over the global economy and energy demand.
Analysts and merchants will pay attention to the G20 summit in Argentina this week to analyze the development of Sino-US trade and analyze trends in energy demand. Tyler Richey, editor of the Sevens report, said: "The current agreement, or the decision to delay or increase delays, will be positive, but if there is no agreement, it will cause all dangerous assets, especially commodities with oil."
The current dollar has been strengthened and the ICE dollar index has increased by 0.3%, which is causing a great deal of pressure on the dollar's oil prices.
Norbert Ruecker, Chief of Economics and Business Studies at Julius Baer, believes that the market is in charge of over-supply and global economic growth.
"Sand countries and their allies may have oil revenues, and probably partly supplying reversal of growth trends, which can be marketed in new markets to ease fuel inflation in new markets, the price of high oil prices is not as severe as the default price for oil in more than $ 50 , the shale industry thinks twice as a behavior of crazy investment. "
Looking ahead, the market will see EIA's domestic petroleum supply report on Wednesday. S & P Global Platts analysts expect the government to expand its crude oil inventories 430,000 barrels in the week ending 23rd of November, which will have a drop in supply of roughly 10-week crude oil.
Other energy goods transactions
Gasoline's December performance for the future dropped 1.5% to $ 1,421.
Natural gas futures for December supply decreased by 0.4% to $ 1,886.
The December delivery of natural gas futures increased by 0.3% to US $ 4,426.