Alaska crude oil pipeline closes, international oi

Alaska crude oil pipeline closed, international oil prices rose

Alaska crude oil pipeline closed, international oil prices rose

January 11, 2011

[China paint information] on Saturday (January 7), the world's only oil pipeline in the Arctic Circle leaked, leading to a strong rise in international oil prices on Monday. At the same time, the US employment index rose, the weakening US dollar and the severe cold climate in the United States also boosted oil prices. At Monday's close, the February futures settlement price of light crude oil on the New York Mercantile futures exchange was $89.25 a barrel, up $1.22 from the previous trading day; London Intercontinental Exchange Brent crude oil February futures settlement price of $95.7 a barrel, up $2.37; February heating oil futures in New York rose 6.98 cents to 255.61 cents per gallon; Rbob gasoline February futures were 245.43 cents per gallon, up 4.12 cents; London Intercontinental Exchange January diesel futures $782.5 per ton, up $13.50

according to the settlement price of the New York Mercantile Exchange, the "3-2-1" profit from refining three barrels of crude oil into two barrels of gasoline and one barrel of heating oil on Monday was $15.256 a barrel, up $0.911 from Sunday

although the leak is small, the 80 mile (1300 km) crude oil pipeline in Alaska has been closed for environmental protection. Refineries in the western coastal area of the United States mainly process Alaska crude oil. The daily output of crude oil on the north slope of Alaska is about 630000 barrels, accounting for 9% of the output of small samples in these experimental methods of American crude oil

according to Reuters, sources familiar with the situation said on Monday that the pipeline was planning to restart this week and was awaiting regulatory approval

however, we believe that people still remember the major environmental disaster caused by the crude oil spill in the Gulf of Mexico last year. It is estimated that the environmental protection administration of Texas will not easily let go of the aging and frequently leaking Alaska oil transmission pipeline because of economic interests. Once the pipeline restoration is delayed, it will have a serious impact on the global oil supply pattern. Because the prosperous western coastal areas of the United States mainly rely on crude oil from the north slope of Alaska, due to geographical constraints, including crude oil from the Gulf of Mexico and the Atlantic basin, as well as the Middle East, it is difficult to transport to the western coastal areas of the United States. As a result, the closure of the Alaskan crude oil pipeline has widened the price rise of Brent crude oil futures in the world with reference to oil prices. Brent crude oil futures have been more than $6 per barrel higher than West Texas light crude oil, which is the highest premium in recent two years

Brent crude oil futures in recent months have risen to the highest level since the end of September 2008, not far from US $100 per barrel. However, according to the Shana news agency of Iran's oil ministry, Masoud mirkazemi, Iran's oil minister and current OPEC chairman, said that even if the oil price exceeded $100 per high-precision barrel, it would not be worrying, and OPEC could not use this as a reason for holding a special meeting

another rise in the US employment trend index will bring hope to the job market and boost oil demand. According to the report released by the world large enterprise research association, a private consulting organization in the United States on Monday, the U.S. employment trend index in December 2010 was 99.3, up 0.8% from November, and the data in November was revised to 98.5, with the initial value of 99.0

the weaker dollar has led people to seek investment in commodity futures, pushing up oil prices. Worries about the European debt crisis gave way temporarily, and the euro rebounded slightly after hitting a four-month low against the dollar in New York on Monday. Late Monday, the euro was at $1.2952 against the dollar. The ice dollar index fell to 81.012 from about 81.138

U.S. crude oil inventories may rise after five consecutive weeks of decline. Five of the six analysts organized by Dow Jones on Monday estimated the growth of U.S. crude oil inventories in the first week of 2011, ranging from a decline of 2.3 million barrels to an increase of 4 million barrels, with an average estimate of an increase of 200000 barrels. For gasoline and distillate inventory estimates, four analysts estimate an increase and two estimate a decrease respectively

according to the data released by the OPEC Secretariat on January 10, 2011, the oil price of the OPEC package composed of 12 kinds of crude oil was $90.81 per barrel last Friday (January 7), down $1.23 from last Thursday. At the same time, the OPEC package of oil prices announced on January 6 was US $92.04 per barrel; On January 5, OPEC's oil price package was US $90.89 per barrel