Crude oil price rises sharply after record sharp decline Anxiety over U.S. economic measures declines March 17 at 17:25
On the 9th, the Tokyo crude oil market, which recorded a sharp decline, turned around on the 10th, and the price of crude oil futures rose sharply. With the spread of the new coronavirus disrupting the financial markets, US President Trump has shown some intention to launch large-scale economic measures, which has somewhat eased investor sentiment.
On the 10th, the Tokyo Commodity Exchange on October 10 saw buying orders spread on crude oil futures, and the closing price of the futures price, which is the center of trading, on the 10th was 25,370 yen per kiloliter, 3610 yen compared to the 9th, the rate The price has risen more than 16%.
In the Tokyo crude oil market, on the 9th, in addition to the spread of the new coronavirus infection, OPEC (Petroleum Exporting Authority) and Russia, a non-member country, could not agree on a cut in production, causing a sharp fall in international crude oil prices. Futures fell a record price.
Crude oil futures prices began to rise on the 10th, as investors' fears somewhat receded after President Trump of the U.S. on the morning of the 10th showed plans to launch large-scale economic measures, including tax cuts. .
According to a market source, `` The demand for crude oil is expected to decline due to the spread of the new coronavirus infection, and there is a view that the supply of crude oil will increase further due to the breakdown of talks in oil-producing countries, so volatile prices will continue for the time being. Or not? "