Oil Price Morning Report: Crude oil futures drop sharply
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On 2010-10-20 at 07:49, driven by the sharp drop in U.S. gasoline prices, a slowdown in China’s GDP growth, and concerns over Iran increasing its crude oil exports, Brent crude oil futures tumbled by nearly 4%, while U.S. benchmark crude oil futures dropped by 3%. On Monday, October 19, the closing price of West Texas Light Oil futures for November 2015 on the New York Mercantile Exchange was $45.89 per barrel, down $1.37 from the previous trading day, with a trading range of $45.85–$47.49 ； The closing price of Brent crude oil futures on the London Intercontinental Exchange for December 2015 was $48.61 per barrel, down $1.85 from the previous trading day, with a trading range of $48.57–$50.68. The settlement price of December Brent crude oil futures was $2.72 per barrel higher than that of West Texas Light crude oil futures for the same period.
Multiple factors contributed to the sharp drop in oil prices on Monday: 1. U.S. gasoline futures hit six-year lows; 2. Brent crude oil futures fell by 4%, while WTI dropped by 3%; 3. China’s GDP growth in the third quarter was the lowest since 2009; 4. Iran said it would comply with the nuclear deal within this year
Weren’t there plans to raise the prices of refined oil recently? It seems that’s not possible anymore then
The only constant in the world is change. :)
The environment around me makes me deeply doubt the GDP figure for the third quarter. . .
The price of refined oil rose as scheduled
I saw a news item on Tencent where the head of the statistics bureau explained why the growth rate was only 6.9% in the third quarter. I wonder, shouldn’t it be the Prime Minister who explains whether the economic growth rate is high or low? Isn’t the statistics bureau just responsible for doing the calculations?
Mark Twain said there are three kinds of words in the world that one should not believe: first, lies； II. Data from the Bureau of Statistics ； III. Damn lies. :lol:lol:lol