Xinhua Finance, New York, May 21 (reporter Liu Yanan) - the international crude oil futures price mainly fell in the overnight market. As of the close of the day, the light crude oil futures price for delivery in June on the New York Mercantile Exchange rose by US $1.02 to US $113.23 a barrel, or 0.91%. London Brent crude oil futures for July delivery rose US $0.51, or 0.46%, to US $112.55 a barrel.
According to the data released by the American Automobile Association on the 20th, the average retail price of gasoline in the United States on that day was $4.59 per gallon, setting a new record for the 11th consecutive day.
Andrew gross, a spokesman for the American Automobile Association, said consumers expected oil prices to remain high throughout the summer.
UBS group in a report released on the 20th showed that the United States is unlikely to have an economic recession in the next 12 months, and commodities can effectively hedge geopolitical risks in the portfolio. It is expected that by March 2023, the price of Brent crude oil futures will hit US $115 per barrel.
Ole Hansen, head of global commodity strategy at Saxo Bank in Denmark, said that tightening monetary policy and slowing economic growth would affect international oil prices, tight supply in the global oil market and increased fluctuations in crude oil prices. According to the data released by Baker Hughes, an oilfield service company, on the 20th, the number of active oil rigs in the United States this week was 576, an increase of 13 month on month and 220 year-on-year. In the same period, the number of active oil drilling rigs in Canada was 40, with a month on month increase of 3 and a year-on-year increase of 15.
Robert yawger, head of Mizuho Securities's U.S. energy futures business, said that when the S & P 500 index performs poorly, it is difficult for crude oil prices to keep rising.
