Report: International Crude Oil Price Falls Below 88 Dollars Per Barrel
Affected by China's increasing deposit reserve ratio and the strength of the US dollar, international crude oil prices fell below $88 a barrel on the 10 day.
On the same day, the people's Bank of China announced that the deposit raising financial institutions should be raised from December 20, 2010.
RMB
The deposit reserve ratio is 0.5 percentage points.
The market is worried that China's measures to curb inflation and control liquidity will slow down economic growth, thereby affecting international crude oil demand, and crude oil prices should fall.
In addition, the United States released data on the same day, December this year.
Consumer
Confidence index rose to 74.2, better than market expectations, the highest level since June of this year.
The foreign trade data of the US Department of Commerce showed that the trade deficit fell to 38 billion 700 million US dollars in October, the lowest level in 9 months because of the decline in imports and export growth.
The dollar exchange rate rose, and dollar denominated crude prices fell.
To close, the New York Mercantile Exchange will deliver light crude oil in January next year.
futures
The price fell 58 cents to $87.79 a barrel.
London market Brent crude oil futures in Beihai fell 51 cents to $90.48 a barrel.
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