By December 30 the integrated power to foreign reports, the international oil price soared 6.1 percent Monday, as markets worried about the escalating military conflict in the Gaza Strip may be affected by outside countries, almost no one is willing to further push down oil prices.
February New York Mercantile Exchange, light sweet crude oil futures settled up 2.31 U.S. dollars to 40.02 U.S. dollars a barrel, or 6.1%. ICE Futures Brent oil futures settled up 2.18 U.S. dollars to 40.55 U.S. dollars a barrel.
But last week of the Organization of Petroleum Exporting Countries (OPEC) member countries of the signs of reduced oil prices boost the role of dissipating, and market expectations of high U.S. crude oil inventory situation is likely to continue into next year.
Although there are preliminary indications that OPEC has started to implement the set of output, but demand is still worried about the oil prices contain. OPEC's third-largest oil producer said last week that the United Arab Emirates, will be in January next year and in February reduced shipments of crude oil up to 15%, resulting in tight supply is expected to push up oil prices.
Released last week showed U.S. crude oil inventory data, located in Cushing, Okla., the New York Mercantile Exchange contract delivery point of crude oil inventories hit a historical high of 2,850 million barrels per day. This situation is expected to dealers there will not be much improvement in the near future.
In addition, in January RBOB gasoline futures settled up 3.05 cents to 0.8745 U.S. dollars per gallon, or 3.6%. January heating oil futures settled up 4.03 cents to 1.2853 U.S. dollars per gallon.