Global crude oil prices increase, stimulating by weak USD
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Update time : 2020-07-28 18:54:45
According to the market, crude oil prices increased by around 0.8% to US$41.60/barrel in the New York Mercantile Exchange for September, mainly benefited by the weak US Dollar, which hit a 2-year new low.
Moreover, the US government also planned to levy a new round stimulating policy, with the worth of around US$1 trillion, and the market expected that it would bring more crude oil demand to the market.
Although the crude oil price seemed optimistic to the future, Schlumberger Limited, the largest oilfield services provider in the world, still announced to cut 21,000 employees to react to the company loss.
The main theme of domestic favourable macro front remains unchanged, SHFE aluminium prices showed a ‘v-shaped’ rebound today
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