Oil Prices Fell 0.68% Decline in international

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Oil Prices Fell 0.68% Decline in international
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NEW YORK, 1028 Xinhua profit-taking by investors affected by the operation, 28 after international oil prices rose following the previous session to close at down.

The recent trend of international oil prices and the process of resolving the debt crisis in Europe associated with a high degree. 27 EU leaders to

reach a settlement of the debt crisis package, which greatly boosted the market sentiment, and promote oil prices rose 4 percent.

But investors and market analysts believe the market for the debt crisis in Europe over the reaction solution, because the program is currently in Greece to write down the debt, how to increase Europe’s financial stability mechanism is still a lack of such details. Market doubt, the intensity of the program is not enough, is unlikely to effectively curb the debt crisis, optimism began to wane. Therefore, investors take profit-taking, selecting can be secured.

In addition, from the crude oil supply and demand point of view, with the heavy debt burden, Greece, Italy and other countries to slash government spending, the European oil demand will continue to decrease. The data showed Japan the same day, nine plants to reduce output 6 for the first time, to add pressure on global oil demand outlook.

The same time, stabilize the situation in Libya, in its crude oil exports are expected to recover. Supply and demand changes to a more global representation of the meaning of Brent crude oil constitute more pressure.

To closing, the New York Mercantile Exchange, light sweet crude for delivery fell 64 cents to settle at $ 93.32 a barrel, down 0.68%. Then rose $ 5.92 the week, or 6.77%.

12 delivery London, Brent crude oil futures prices fell $ 2.17 to close at $ 109.91 a barrel, down 1.94%. Closed the week flat base, only inched up 35 cents ....READ MORE