International oil prices close at $95.15 a barrel

International Energy News: As the market is not optimistic about the outlook for crude oil demand, international oil prices fell on the 11th.

On the day, investors were depressed and were pessimistic about the outlook for crude oil demand. In the United States, following the worsening of the employment data in June, President Barack Obama and the Republican Party have reached an impasse on negotiations to increase the debt ceiling. After two days of talks at the weekend, they still have no results, disappointing investors.

In Europe, the euro zone finance minister will hold a meeting later in the day to discuss specific plans for the rescue of Greece. At the same time, Italy’s debt situation is also deteriorating, and the number of questions it faces is increasing day by day. Investors worry that if Italy, the third largest economy in the euro zone, repeats its mistakes in Greece, it will cast a shadow over the entire European economy and even the world economy.

In addition, China's inflation rate in June rose to 6.4%, a record high for three years. Analysts believe that this will prompt China's central bank to continue raising interest rates, monetary policy continues to tighten will affect China's economic growth, thereby curbing crude oil demand.

Moreover, the euro fell sharply to the US dollar by 1.35% on the day and fell to a four-month low, causing the US dollar index to rise by more than 1%. The strong US dollar also poses a major pressure on oil prices.

However, the situation in the Middle East continues to be tense, leading to fluctuations in oil prices. Investors continued to pay attention to the situation in Syria. In particular, after the attack on the American and French embassies, future developments have increased. In addition, the International Energy Agency said it will slightly reduce the strategic oil reserve release from the original announced 60 million barrels to 59.83 million barrels.

At the close of the day, the price of light crude oil for August delivery on the New York Mercantile Exchange fell by $1.05 to close at $95.15 per barrel, a decrease of 1.09%. The Brent crude oil price in the North Sea, which was delivered by the London market in August, fell by 1.09 US dollars to close at 117.24 US dollars a barrel, a decrease of 0.92%.