U.S. crude oil inventories unexpectedly fell supporting crude prices, the current high oil prices have climbed to two years, and advance toward the $ 90 mark. Of the stock market "The Butterfly Effect" appeared, higher oil prices drive strong linkage of petroleum and petrochemical stocks yesterday, PetroChina, Sinopec, the two heavyweights hit a limit.
International crude oil more than two-year high coach bags
Into November, the international crude oil futures rose for five consecutive trading days this month rose more than 8%. The current high oil prices climbed to two years and continue to impact $ 90 mark. At press time, crude oil quotes $ 88.26, up 0.51%. Copper & $ 8966 also hit a record high, exceeding the 2008 financial crisis before the 8940 high point. Crude oil, copper, lead product as a whole, rising side by side with great significance, indicating that the pattern of excess liquidity, a new round of commodity boom has entered a new stage.
"The weakening U.S. dollar index and a significant reduction in U.S. crude oil inventories pushed up crude oil prices is the main reason." Dahua Chemical futures analyst Zhou Wei told reporters.
According to the report released by the U.S. coach bags sale Department of Energy, near the week to 327 million barrels of crude oil stocks fell to 3.649 million barrels, the biggest drop since July. U.S. Department of Energy said that in recent weeks, Cushing, Oklahoma region's oil inventories fell by 5.2% to 2 October 2009 the biggest weekly decline since.
The trend for the crude oil market outlook, the current market and more optimistic. Goldman Sachs said that with global oil inventories and the 2012 decline in production, when oil prices rose sharply, oil prices are expected until next March for the 91 dollars / barrel. International Energy Agency World Energy Outlook released today said it expected international oil prices in 2015 more than 100 U.S. dollars a barrel in 2035 may exceed 200 U.S. dollars.
"Although the importance of weaker global oil supply and demand, but as crude oil derivatives increased by the dollar liquidity support. OPEC, the International Energy Agency, the U.S. Energy Information Agency and other agencies have also raised demand for crude oil had expected, oil prices late There is still upside potential. "financial product research manager when Shao Fu Tao said.
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In crude oil prices, discount coach handbags driven by rising yesterday, A-share market coal, petroleum and petrochemical sector has held up quite well, coal, oil sector as a whole or up to 5.52%. China Petroleum (12.88,0.14,1.10%), Sinopec (9.48, -0.01, -0.11%) hit a two heavyweight limit, closing up 7.69%, respectively, and 5.21%.
PREVENTION AND Everbright Futures analyst, told reporters that "crude oil is the source of chemical raw materials, higher oil prices raise the cost on the one hand, the other is the boost the overall atmosphere of the petrochemical-related products."
According to estimates, discount coach boots when the realized price of crude oil rose $ 1 / barrel, China Petroleum, Sinopec's earnings per share will be thickening 0.012,0.008 yuan. Visible, rising oil prices will benefit oil and gas production companies.
However, Shanghai interim analyst Li, Zhou Lei, said, "If crude oil continuous sharp rise in the case of oil refining enterprises have negative effects, unless oil prices rise further, or higher costs will erode their profits." For the upstream oil and gas exploration and exploitation of business words, although rising oil prices will drive performance improvement, but cost control to maintain higher for the upstream profit growth is very important.
Hai Tong Securities (11.69, -0.33, -2.75%) said that in the process of rising oil prices, the spread of petrochemical products is expanding, and thus the expected crude oil prices in the case of downstream petrochemical products is expected to show increased earnings trend. In addition, rising oil prices will make the cost advantage of coal chemical industry to show.
With rising oil prices, the production cost of downstream petrochemical products will increase; and as rich in coal resources in China, with the development of coal chemical industry resources, and therefore, the production cost of coal chemical enterprises in the oil price advantage will be reflected in the process.
