International Energy Consumption Demand May Slow Down International Oil Prices

Due to concerns about the decline in international energy consumption demand, international oil prices fell slightly on the 19th.

The People's Bank of China once again raised the deposit reserve ratio of commercial banks on the 19th, which made the market worried that the growth rate of China's economy may be suppressed, and the demand for international energy consumption may be affected. However, as the EU, IMF and Irish officials began negotiations on debt assistance in Ireland, investors’ concerns about the debt issue in the euro area have eased, and the euro’s exchange rate against the US dollar has risen slightly, inhibiting the drop in oil prices.

By the close of the day, light crude oil futures for December delivery on the New York Mercantile Exchange fell 34 cents to settle at $81.51 a barrel. The North Sea Brent crude oil futures market in London fell 71 cents to close at 84.34 US dollars a barrel.