In the Tokyo crude oil market on the 27th, the futures price of crude oil temporarily exceeded 50,000 yen for the first time in 2 years and 10 months due to the widespread view in the market that the increase in production in oil-producing countries was not progressing as planned. The price has risen to the standard.
On the 27th, the futures price of Middle Eastern crude oil in the Tokyo market for "February 2022", which is the center of the transaction, has temporarily risen to more than 50,000 yen per kiloliter.
It is the first time in 2 years and 10 months since November 2018 that the futures price of crude oil has exceeded 50,000 yen.
This is due to the fact that it is taking time to restore oil-related facilities that were damaged by the hurricane that landed in the southern United States at the end of August, and that the increase in production planned by major oil-producing countries after August is the equipment. This is because there is a widespread view in the market that it is not progressing due to lack of maintenance.
Market officials said, "In addition to the shortage of crude oil supply, Europe is raising prices due to the move to increase natural gas and oil inventories in preparation for winter. Crude oil prices are on the rise globally. Therefore, it is expected that the prices of domestic gasoline and kerosene will rise further. "