According to people's daily, the situation in the middle east and the latest inflation data in the united states have led to a 10-day sharp rise in international oil prices, of which the price of new york crude oil futures rose by 4 per cent in post-date transactions, after which prices remained volatile at $93 per barrel. In addition, international gold prices fell by $4,100 per ounce that day。
That day, the united states once again took a hard stand against iran, triggering international market concerns about the intensification of the conflict and the renewed tightening of oil supplies on the international market. As at the closing date, light crude oil futures delivered by the new york commodity exchange in july had increased by $1. 83 to $90. 03 per barrel, or 2. 07 per cent; and london brent crude oil futures delivered in august had increased by $1. 65 to $93. 10 per barrel, or 1. 8 per cent。
Data released by the united states department of labor on the 10th day show that the united states consumer price index (cpi) rose by 4. 2 per cent in may, up from 3. 8 per cent in april, the highest level since may 2023. This triggered speculation in the market that the fed was tightening monetary policy, further pressuring international gold prices and pushing gold futures and spot prices below $4,100 per ounce。
Projected lower domestic oil prices
A new round of oil price adjustments will be made at 2400 hours on 18 june for the price of domestic finished oil。
Based on the projected downward adjustment of $130 per ton of crude oil, which has been affected by the recent continuous decline in international oil prices, the price of diesel fuel is projected to decrease by $0. 10 to 0. 12 per litre, based on a 10-day statistical cycle of current oil prices。
