The hottest worry is weak demand and downward oil

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Worried about weak demand and downward oil price

worried about weak demand and downward oil price

January 09, 2009

the consumption of PP in these major components [China paint information] crude oil futures fell for the third consecutive trading day on Thursday, and investors worried that weak demand and soaring inventories might lead to a new low in oil prices

the settlement price of February light and low sulfur crude oil futures on the New York Mercantile Exchange fell 93 cents to $41.70 a barrel. The gear and pinion samples were cleaned and ready for use, down 2.2%. The settlement price of February Brent crude oil futures on the ICE Futures Exchange fell $1.19, or 2.6%, to $44.67 a barrel

after reaching a five-year low in mid December, oil prices rebounded to more than $50/barrel in trading on Tuesday. The market is still above the $33.87/barrel hit in mid December, but it may be so again, because the computer tensile testing machine is mainly used for tensile, shrinkage, zigzag, shear, tear, peel, cycle and other mechanical property tests in industries such as metal wire, metal foil, plastic film, wire and cable, adhesive, wood-based panel, wire and cable, waterproof materials, etc. the new guidelines show weak demand and increased inventory levels

crude oil inventories at the contract delivery point of the New York Mercantile Exchange in Cushing, Oklahoma, exceeded 32million barrels last week, close to its maximum inventory capacity of about 45million barrels. Due to the non delivery and the approaching maturity of February crude oil futures, the futures market may be full of desperate sellers

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