Analysis and comments on crude oil futures market

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Crude oil futures market analysis and comments on August 15

crude oil prices continued to rise on Friday, and crude oil futures for recent delivery briefly rose above $67 a barrel, hitting another record high

the intensification of market concerns about supply has triggered a general rise in energy prices

while energy prices are rising, market trading is also very active. Speculators and hedge funds cover short positions or establish new long positions, because they believe that refinery failures and the high impact resistance of other hard materials pose a threat to supply, which will drive the market to rise further next week

ba to avoid the long-term negative photoelectric induction of the Leeb hardness tester is one of the more advanced technologies. Carl Larry, the head of futures at rclay capital in New York, said that due to the failure of another Refinery and the approaching weekend, there were a lot of risk averse buying and short covering in the market

September crude oil futures on the New York Mercantile Exchange rose to a record high of $67.10 a barrel, up $1.30. The futures closed up $1.06 to $66.86

gasoline futures rose 6.47 cents to a new high of $2.0145 per gallon in September, the highest level since gasoline futures began trading on the New York Mercantile Exchange in 1983. The contract closed at $2.0048 a gallon on Friday, up 5.50 cents

heating oil futures performed slightly worse than other varieties. In September, heating oil futures rose 0.7 cents to close at $1.9055 per gallon, and once rose to a new high of $1.9350 per gallon

Peter Beutel, President of Cameron Hanover, a trading consultancy, said that problems in refineries had once again become the core factor in the market upturn

in terms of the latest refinery accident, a refinery with a daily refining capacity of 180000 barrels in Memphis of Premcor Inc. (PCO) was forced to shut down due to power interruption. This is the latest in a series of power outages that have affected more than 10 refineries in the past three weeks

refinery failure is obviously the main force driving the recent peak of oil prices, but analysts said that perhaps the market is also preparing for the possible deterioration of relations between the United States and Iran

Fadel Gheit, an analyst at Oppenheimer CO in New York, said investors were worried that the United States might plan military action against Iran

Iran, the second largest oil producer in the Middle East, recently resumed uranium conversion activities, which is a step before uranium enrichment. The power battery plants of uranium enrichment 3-star SDI and LG chemistry have been completed and can be used to generate electricity or manufacture atomic bombs

Iran said that the nuclear program is to generate electricity, while the United States has a different view

investors' concern that the issue may be referred to the Security Council, leading to sanctions on Iran and even military conflict may push oil prices to continue to rise significantly

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