The most popular panic led the market investors to

2022-08-02
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Panic LED market investors to sell, leading to a sharp drop in oil prices

the nuclear leakage accident caused by the Japanese earthquake triggered panic selling by global investors. On the 15th, the international oil price recorded the largest one-day decline in nearly five months, with more price advantages. The oil prices in New York and London both fell by about 4%. At the close of trading on the 15th, the price of light crude oil futures for April delivery on the New York Mercantile Exchange fell by $4.01 to close at $97.18 a barrel, down 3.96%

the oil price may decline briefly

Japan is the third largest oil consumer in the world. The major earthquake and tsunami and other secondary disasters in Japan led to the closure of five refineries in Japan, involving a production capacity of 1.4 million barrels of crude oil per day, and also led to the explosion of nuclear power plants. Several positive signals have emerged in the economic operation of China's extruder industry. Serious nuclear leakage has made investors believe that it will take longer for Japan's economy to get out of the disaster, which will affect the prospects of the world economy, and the market panic has increased sharply

although investors predict that after the earthquake, Japan may need to import more oil and refined oil for power generation to replace nuclear energy. However, the expectation of rising oil demand in Japan on the 15th was less than people's concern. Investors worried that the earthquake and nuclear leakage might have an impact on the global economy, and sold off crude oil futures one after another

in addition, the earthquake intensified the flow of funds back to Japan. Japan is the world's largest creditor country, with the world's second largest current account balance and no large amount of "hot money" from overseas. After the earthquake, the tested object was fixed on the machine. The nickel used in the lithium-ion battery was less than 10% of its capacity and returned to Japan to make up for the loss, which led to the selling of high-risk assets around the world

Goldman Sachs released a report that the Japanese earthquake will seriously affect the supply and demand of commodities. The report predicts that Japan's nuclear power capacity will decline by 26% and 20% of its oil refining capacity will be shut down. It is reported that Japan's closed refining capacity may reach 935000 barrels/day, which may exert upward pressure on some product oil markets, but the impact on crude oil may be just the opposite. Goldman Sachs believes that due to the greatest impact on Dubai's demand, the earthquake will make the price difference between Dubai and other grades of crude oil face downward risk. However, the downward pressure on oil prices may only be temporary. In the medium and long term, if the refining capacity is restored and the nuclear power capacity is still closed, the crude oil price will still face upward pressure on the whole

the supply-demand relationship gradually eased

on the 15th, the US Federal Reserve said that the US economy was recovering steadily and announced that it would maintain the current interest rate level close to zero. The promising us economic outlook narrowed the decline in oil prices

the International Energy Agency (IEA) released a report on Tuesday that despite the recent sharp rise in oil prices, there is no reason to expect that oil prices will soar to $147 a barrel in 2008 again this year. IEA said that the processing capacity of global refineries is declining and may hit a seasonal low of 73.5 million barrels per day this month

according to the report, the global daily crude oil supply hit a record high of 89million barrels in February, an increase of 200000 barrels compared with January, which is partly due to the recovery of some oil production activities in Alaska. This offset the negative impact of OPEC's daily crude oil production reduction caused by Libya. The IEA said that OPEC, as a buffer against the interruption of crude oil supply, both idle capacity and crude oil inventories shrank in February. OPEC's average daily idle capacity fell to the lowest level since the end of 2008

iea said that the global economy recovered in the second half of 2010, and the demand growth was greater than the supply growth, but the market supply-demand relationship has eased this year. However, the market's concern about the impact of regional turmoil has prompted the oil price to rise, and there is a major risk that the current price will curb demand

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