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Oil Market Morning Post: the release of US strategic stocks boosted the oil market to explore $55

on Tuesday, the price of crude oil futures market on the New York Mercantile Exchange (NYMEX) closed higher than $2 and exceeded $55/barrel. Previously, the United States announced plans to double the size of strategic oil reserves, and in order to achieve this goal, the government will start purchasing a limited amount of crude oil

US Energy Secretary Samuel Bodman said that in order to double the strategic oil reserve to 1.5 billion barrels by 2027, the US Department of energy is planning to purchase 100000 barrels of crude oil a day from this spring. President Bush will outline this plan in his state of the Union address on Tuesday evening

although the additional strategic reserve demand of 100000 barrels/day is less than 0.5% of the daily oil consumption of the United States, the above plan will drive the growth of crude oil demand in the future, which is enough to provide support for today's oil price rise

peter Beutel, President of Cameron Hanover, said that the U.S. government's plan would provide some additional support for the crude oil market. The crude oil purchase volume involved in the plan does not seem to be enough to cause severe market fluctuations, but it does seem to drive the growth of demand

today, NYMEX crude oil futures market price in March closed up $2.46 to $55.04/barrel, a 1. 5% increase since January 9 User rights hierarchical management mode to the highest settlement price level

the March Brent crude oil futures price on the London ice exchange also closed up $2.40 to $55.10/barrel

nymex February heating oil futures rose 6.79 cents to $1.5763/gallon. In February, restructured gasoline closed up 7.19 cents to $1.4473/gallon

since it fell to a 20 month low of $49.90/barrel last week, the price of crude oil has risen by nearly 10%. The rebound in oil prices was mainly boosted by the cooler weather in the northeast of the United States. The demand for heating oil in the northeast of the United States accounts for 80% of the total demand of the United States

mi · power-40wke Cambria, vice president of pndr energy group in New York, said that the crude oil market has been falling excessively and the rise has been delayed. Boosted by the news of the US strategic oil reserve, oil prices rose. Of course, psychologically, the rise in oil prices was also affected by the low temperature forecast

Mohammed al Hamli, chairman of OPEC, said that he had been worried about the recent decline in oil prices, but in the near future, oil prices are more likely to strengthen at the same time, rather than collapse

he said that Qatar would be satisfied with the $55/barrel package of oil prices. However, when there is lubricant on the weekly friction surface, the oil price is less than $50/barrel

when announcing the increase of strategic oil reserves, Bodman said that we should be extra cautious to avoid negative impact on the market and raise gasoline prices

according to the White House, the U.S. strategic crude oil reserve is about 691million barrels, equivalent to 55 days of net oil imports. In 1985, the strategic crude oil reserve was equivalent to 118 days of net imports. At that time, the import volume of the United States was very low

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