Affected by multiple negative economic data, international oil prices fell below 75 U.S. dollars

According to news from Xinhua News Agency on August 19, due to a series of negative economic data that aggravated the market’s concerns about economic recovery and energy demand, the New York market’s oil price fell below 75 US dollars per barrel on the 19th.

The data released by the US Department of Labor on that day showed that the number of people who applied for unemployment benefits for the first time last week rose to the highest level in nine months in a row for the third week; the four-week moving average representing the long-term employment market trend also rose to a new high since December last year. .

At the same time, the Philadelphia Federal Reserve Bank’s report showed that the manufacturing index for the region fell to -7.7 in August, well below the 7.5 expected by economists. Usually data below zero means that the manufacturing industry has contracted.

In addition, the leading economic index for July, which predicts the U.S. economic trend in the next 3 months to 6 months, only increased by 0.1%, which is also lower than market expectations.

Affected by the above factors, by the close of the day, the price of light crude oil for September delivery on the New York Mercantile Exchange fell 99 cents to settle at 74.43 US dollars per barrel. The price of Brent crude oil in the North Sea delivered by the London market in October fell 1.17 dollars to close at 75.30 dollars per barrel.