In the Tokyo crude oil market on the 22nd, futures prices fell sharply as the United States and Japan were informed that they were considering collaborating to release surplus stockpiles.
In the Tokyo crude oil market on the 22nd, the closing price of futures, which is the center of the transaction, was 51,960 yen per kiloliter, which is 2410 yen lower than last weekend.
This is because there is a view that the infection of the new coronavirus will spread again in Europe and the demand for crude oil will fall due to the restriction of behavior, and the government is domestically responding to the request from the Biden administration of the United States. The main factor was that we were informed that we were considering releasing the surplus of the national oil reserves in Japan to the market.
Regarding the outlook for the future, market officials said, "The release of stockpiles has been factored into the price. However, due to the limited amount that can be released, the decline in futures prices is temporary. There is a possibility that it will stay at. "