国产热热热精品,亚洲视频久久】日韩,三级婷婷在线久久,99人妻精品视频,精品九热人人肉肉在线,AV东京热一区二区,91po在线视频观看,久久激情宗合,青青草黄色手机视频

   

BIZCHINA / Top Biz News

NYMEX crude dives
(Reuters)
Updated: 2006-05-16 10:21

US crude futures ended down more than $2 on Monday as investors feared recent high prices could slow economic growth and as China said it would make its currency more responsive to market forces.

Crude for June delivery settled down $2.63 at $69.41 per barrel on the New York Mercantile Exchange.

In London, June Brent crude shed $2.65 to $69.67 a barrel.

NYMEX June gasoline fell 12.45 cents to $2.054 per gallon, while June heating oil lost 10.17 cents to $1.945 a gallon.

China said on Monday that it would press ahead with reform of its currency regime with the aim of making the yuan more responsive to market forces.

The commitment coincided with the yuan's briefly strengthening beyond 8 per dollar for the first time since the central bank revalued it by 2.1 percent and freed it from a dollar peg last July.

"With the Chinese being more flexible with their currency, the assumption is that will slow their manufacturing a tad," said Phil Flynn, analyst at Alaron Trading in Chicago. "Oil is getting whacked today. If we close below $70, we could get down to the mid $60s later in the week."

The oil minister for Saudi Arabia, the world's largest oil exporter, said on Monday high oil prices lead consumers to think twice before they spend.

"In general, when prices are high, people check their pockets," Ali al-Naimi said. "When they are lower, they open them."

The International Energy Agency said in a report on Friday that high prices were affecting energy use and cut its 2006 forecast for demand growth by 220,000 barrels per day to 1.25 million bpd.

The University of Michigan's US consumer sentiment index slumped to the lowest since Hurricane Katrina -- stirring worries that Americans may curb spending in the face of $3 gasoline.

But analysts said it's too early to forecast the end of high oil prices.

"The question on everyone's mind is whether or not it's over. Probably not. Crude prices could fall all the way to $60 and the chart would retain a constructive pattern," said John Kilduff, senior vice-president of energy risk management at Fimat USA.

Traders were looking ahead to Wednesday's government survey of US petroleum inventories. In a preliminary Reuters poll, analysts predicted that gasoline inventories rose by 1.8 million barrels last week amid lower demand and higher refinery production, while crude stocks fell 300,000 barrels.

Distillate stocks were seen up 1 million barrels, with refinery operations up 0.6 percentage point.


(For more biz stories, please visit Industry Updates)

 
 

民乐县| 昂仁县| 南川市| 东方市| 方城县| 海城市| 留坝县| 获嘉县| 清水河县| 渭源县| 祁阳县| 二连浩特市| 汪清县| 大方县| 临海市| 镇雄县| 绥棱县| 汉寿县| 杭锦后旗| 剑阁县| 闻喜县| 博爱县| 富宁县| 枣强县| 巩义市| 双桥区| 青海省| 玉环县| 博爱县| 高要市| 马尔康县| 龙胜| 包头市| 宝清县| 通州市| 高青县| 宁陵县| 武穴市| 韶山市| 安顺市| 铜川市|