The European Union has banned Iranian oil as a sanction against Iran, but nobody in the world today is afraid of it. Iran unexpectedly prepared to preemptively stop exporting crude oil to the EU. After Iran’s words came out, the international oil price escalated by 2%. However, the International Energy Agency stated that it will use emergency stocks when necessary and international oil prices have narrowed the decline. At the close of trading on Thursday, the New York Mercantile Exchange's light crude oil in March ** settled at $99.7 a barrel, up $0.30 from the previous trading day; London Intercontinental Exchange Brent crude oil in March ** settled at 110.79 a barrel. US dollar, up 0.98 US dollars; New York heating oil in February ** 305.35 cents per gallon, up 3.43 cents; RBOB gasoline February 284.66 cents per gallon, up 1.28 cents; London Intercontinental Exchange in February diesel ** US$944.75 per ton, up 2.50 USD.
According to the settlement price of the New York Mercantile Exchange, the "3-2-1" profit of three barrels of crude oil refined into two barrels of gasoline and one barrel of heating oil was $22.754 a barrel on Thursday, up $0.539 from the previous trading day.
On January 23, the European Council issued a statement saying that the EU has agreed to impose unprecedented sanctions on Iran, announced the embargo on Iranian oil and petrochemical products, and imposed new restrictions on the Central Bank of Iran. The EU stated that in view of the serious and deep concerns about Iran’s nuclear program, the oil ban on the country will come into effect on July 1, 2012, thus completing the existing contracts.
EU member states are seeking alternative vendors from other oil exporters in Saudi Arabia and the Persian Gulf. Iran is seeking alternative buyers. In response to the EU oil embargo, Iran’s state-owned oil company stated in a statement posted on its website that, in light of potential customer and supply and demand situations, it is easy for other oil-consuming countries around the world to replace EU consumer countries.
The Iranian side believes that the EU plans to implement the oil embargo in phases within six months, indicating that the EU has difficulties in stopping the import of Iranian crude oil, in order to reduce the impact on Greece, Italy and other countries. European Commission data show that Greece, Italy and Spain imported Iranian crude oil in 2010 accounted for 68% of the total imports of Iranian crude oil from the EU.
According to the latest statistics from the US Energy Information Administration, in the first half of 2011, the European Union purchased Iranian crude oil 450,000 barrels a day, accounting for 18% of Iranian crude oil exports; while China’s imports of Iranian crude oil accounted for 22% of Iran’s crude oil exports, and Japan’s 14%, India 13%. The International Energy Agency estimates that the EU imports Iranian crude oil 600,000 barrels per day between January and October 2011.
Signs of momentum in the US economic recovery on Thursday supported the oil market earlier. Although the number of initial jobless claims rose last week, current trends show that the job market has improved. In addition, data released by the United States showed that the US durable goods orders increased more than expected in December 2011. However, the subsequent decline in US sales of pre-sale homes and the lower-than-expected increase in the U.S. economic lead in December dampened the market.
The net long held by speculators in the New York Mercantile Exchange's light crude oil increased by 7.5%. According to the latest statistics from the US Commodities Commission, as of the week of January 17, the New York Mercantile Exchange held 1,308,401 positions in crude oil, a decrease of 7,758 contracts. Large speculators held net longs of 171,226 contracts in New York Mercantile Exchange crude oil, an increase of 11,878 contracts from the previous week. One of them increased 10,824 hands; the shorts decreased 1,054 hands.
Management** Net longs held in US light crude oil** and options decreased by 3.8%, while net longs held on intercontinental exchanges increased by 40%. According to the new classification, as of the week of January 17, the management of ** net long positions on the New York Mercantile Exchange crude oil and options decreased from 201672 hands of the previous week to 193,965 hands; of which, the longs decreased by 9185; the shorts decreased by 1478 hand. The net long held in the London Intercontinental Exchange crude oil exchange and options management increased from 16,303 hands in the previous week to 22,831, with 2374 contracts for longs and 4,154 contracts for shorts.
Asian benchmark Dubai crude oil spot market followed the rise of Western crude oil on Thursday. Dubai crude oil delivered in March 2012 closed at $108.09 a barrel, which was $0.31 higher than the previous trading day. March Brent/Dubai is now trading at $2.3; March WTI/Dubai is trading at $8.57.
Singapore's diesel oil in January was $126.55 a barrel on Thursday, up $0.45 from the previous day.
Thursday (January 26) Tokyo Commodity Exchange crude oil and refined oil ** staggered. November crude oil ** settled at 53,530 yen per cubic meter, down 70 yen from the previous trading day, volume 34 hands; December gasoline ** closed at 65,060 yen per cubic meter, compared with the previous day's settlement price It rose by 200 yen and the trading volume was 226 lots. In December, the settlement price of kerosene ** was 67,840 yen per cubic meter, which was 200 yen higher than the previous day's settlement price. The volume was 269 lots. The diesel price was settled in December. 65,000 yen per cubic meter.
According to the settlement price of the New York Mercantile Exchange, the "3-2-1" profit of three barrels of crude oil refined into two barrels of gasoline and one barrel of heating oil was $22.754 a barrel on Thursday, up $0.539 from the previous trading day.
On January 23, the European Council issued a statement saying that the EU has agreed to impose unprecedented sanctions on Iran, announced the embargo on Iranian oil and petrochemical products, and imposed new restrictions on the Central Bank of Iran. The EU stated that in view of the serious and deep concerns about Iran’s nuclear program, the oil ban on the country will come into effect on July 1, 2012, thus completing the existing contracts.
EU member states are seeking alternative vendors from other oil exporters in Saudi Arabia and the Persian Gulf. Iran is seeking alternative buyers. In response to the EU oil embargo, Iran’s state-owned oil company stated in a statement posted on its website that, in light of potential customer and supply and demand situations, it is easy for other oil-consuming countries around the world to replace EU consumer countries.
The Iranian side believes that the EU plans to implement the oil embargo in phases within six months, indicating that the EU has difficulties in stopping the import of Iranian crude oil, in order to reduce the impact on Greece, Italy and other countries. European Commission data show that Greece, Italy and Spain imported Iranian crude oil in 2010 accounted for 68% of the total imports of Iranian crude oil from the EU.
According to the latest statistics from the US Energy Information Administration, in the first half of 2011, the European Union purchased Iranian crude oil 450,000 barrels a day, accounting for 18% of Iranian crude oil exports; while China’s imports of Iranian crude oil accounted for 22% of Iran’s crude oil exports, and Japan’s 14%, India 13%. The International Energy Agency estimates that the EU imports Iranian crude oil 600,000 barrels per day between January and October 2011.
Signs of momentum in the US economic recovery on Thursday supported the oil market earlier. Although the number of initial jobless claims rose last week, current trends show that the job market has improved. In addition, data released by the United States showed that the US durable goods orders increased more than expected in December 2011. However, the subsequent decline in US sales of pre-sale homes and the lower-than-expected increase in the U.S. economic lead in December dampened the market.
The net long held by speculators in the New York Mercantile Exchange's light crude oil increased by 7.5%. According to the latest statistics from the US Commodities Commission, as of the week of January 17, the New York Mercantile Exchange held 1,308,401 positions in crude oil, a decrease of 7,758 contracts. Large speculators held net longs of 171,226 contracts in New York Mercantile Exchange crude oil, an increase of 11,878 contracts from the previous week. One of them increased 10,824 hands; the shorts decreased 1,054 hands.
Management** Net longs held in US light crude oil** and options decreased by 3.8%, while net longs held on intercontinental exchanges increased by 40%. According to the new classification, as of the week of January 17, the management of ** net long positions on the New York Mercantile Exchange crude oil and options decreased from 201672 hands of the previous week to 193,965 hands; of which, the longs decreased by 9185; the shorts decreased by 1478 hand. The net long held in the London Intercontinental Exchange crude oil exchange and options management increased from 16,303 hands in the previous week to 22,831, with 2374 contracts for longs and 4,154 contracts for shorts.
Asian benchmark Dubai crude oil spot market followed the rise of Western crude oil on Thursday. Dubai crude oil delivered in March 2012 closed at $108.09 a barrel, which was $0.31 higher than the previous trading day. March Brent/Dubai is now trading at $2.3; March WTI/Dubai is trading at $8.57.
Singapore's diesel oil in January was $126.55 a barrel on Thursday, up $0.45 from the previous day.
Thursday (January 26) Tokyo Commodity Exchange crude oil and refined oil ** staggered. November crude oil ** settled at 53,530 yen per cubic meter, down 70 yen from the previous trading day, volume 34 hands; December gasoline ** closed at 65,060 yen per cubic meter, compared with the previous day's settlement price It rose by 200 yen and the trading volume was 226 lots. In December, the settlement price of kerosene ** was 67,840 yen per cubic meter, which was 200 yen higher than the previous day's settlement price. The volume was 269 lots. The diesel price was settled in December. 65,000 yen per cubic meter.
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