The hottest overnight trading, US oil once fell by

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Overnight Trading: US oil once fell more than 8% to a 16 month low

overnight Trading: US oil once fell more than 8% to a 16 month low

December 19, 2018

[overnight trading] major European stock indexes fell. The decline in U.S. stocks stopped temporarily, the Dow rose nearly 100 points, energy stocks fell together, and the rise of large U.S. technology stocks boosted the market. The record high output of the United States and Russia has caused the market to continue to worry about the oversupply of crude oil. At one time, the US oil fell by more than 8%, and the oil distribution also fell by more than 6%. Gold prices rose slightly, hitting a five month high

[US crude oil futures once fell by more than 8% to a new low since August 2017] US oil once fell by more than 8% to $46.12/barrel, a new low since August 2017. Oil distribution fell by more than 6%, below $56/barrel, breaking the new low since October 2017

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international oil prices continued to fall, because the report showed that U.S. inventories had increased significantly, and it was estimated that shale oil production reached a new high, fuelling concerns of excess supply. As of the close, WTI January crude oil futures fell $3.64, or 7.30%, to $46.24/barrel, a new low since August 2017. Brent crude oil futures in February fell $3.35, or 5.62%, to $56.26/barrel. In after hours trading, the decline of American oilcloth oil continued to expand, with American oil once plummeted by more than 8% to $46.12/barrel. 4. Italian imported oil pump units reached a new low since August 2017. Oil distribution fell by more than 6%, below $56/barrel, breaking the new low since October 2017

since the beginning of October this year, the international oil price has fallen by more than 30%. At present, the US oil price is at the lowest level since October 2017. Traders said that as global economic growth weakened, concerns about future crude oil demand and doubts about the effect of OPEC LED production reduction measures weighed on oil prices

lujiaxuan, an analyst at Felix futures, said: "the continuous increase in shale oil production in the United States and the slowdown in global economic growth may offset opec+'s efforts to reduce production, and the market is considering the possibility of looser fundamentals. With the increasing uncertainties in the economic outlook, emerging markets are still fragile in the quarter, and investors have judged that energy demand will be weak after 2018."

according to the monthly report released by the American Energy Information Association (EIA) on Monday, the output of seven major shale oil producing areas in the United States is expected to exceed 8million barrels per day by the end of the year

traders quoted data from genscape, a market information company, saying that from December 11 to 14, crude oil inventories in Cushing, the delivery site of U.S. crude oil futures, increased by more than 1million barrels

analysts said that as the oil price fell, the unprofitable shale oil plants would be forced to stop their operations and the market supply would be reduced. But it will take time

the physical meaning of the softening point has been surpassed by the United States, which is not as clear as the glass transition temperature. Russia and Saudi Arabia have become the overlords of global energy supply, and their output has climbed to a record 11.7 million barrels per day. Analysts also believe that the production reduction actions initiated by Saudi Arabia and Russia may not achieve the desired results

in addition to the continuous explosion of U.S. production, Iran is also trying to maintain its crude oil production capacity. Some people also expressed doubts about the sincerity of Russia, the initiator of the production reduction, in fulfilling its obligations. Since December, Russia's crude oil production has reached a record 11.42 million barrels per day

hue frame, fund manager of Sydney frame funds, said: "although reducing production can raise prices, seizing market share is obviously more attractive for enterprises than obtaining short-term profits."

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