In the New York crude oil market on the 19th, the international crude oil future price was temporarily one barrel for the first time in about a month and a half because it was reported that the US Biden administration requested the release of oil stockpiling to Japan and China. The price has dropped to the $ 75 level.
In the New York crude oil market on the 19th, the futures price of WTI, which is an international indicator of crude oil prices, temporarily dropped to the $ 75 level per barrel for the first time in about a month and a half.
This is because the Biden administration in the United States reportedly requested Japan, China, etc. to release oil reserves, and if each country decided to release it, the supply amount would increase and the price would decrease, so the number of sell orders increased.
In addition, there is a view that demand for crude oil will decline in Europe and other countries due to restrictions on unnecessary and unurgent outings, including those who have been vaccinated from next week in Austria, where infection with the new coronavirus is spreading. Being also has an effect.
WTI futures prices rose to the low $ 85 / barrel level for the first time in seven years on October 25, following rising demand for crude oil.
Market officials said, "The upward trend in crude oil prices has been stopped for the time being, but it is unclear whether the prices will continue to decline. For the time being, crude oil prices are responding to each country's response to the release of oil reserves and the spread of infection with the new coronavirus. It seems to be influenced by. "